the programmable bank for the digital asset era

Pave Bank has announced a fundraising of 39 million dollars in a Series A round led by Accel, with participation from prominent investors such as Tether Investments, Quona Capital, Wintermute, Helios Digital Ventures, Financial Technology Partners, Yolo Investments, Kazea Fund, and GC&H Investments. 

This operation brings the total funding obtained by the bank to over 44 million dollars, marking a crucial step in the expansion of the world’s first programmable bank, designed to seamlessly integrate traditional finance and digital assets.

Founded in December 2023 by former executives of BigPay, Monzo, and VP Bank, Pave Bank presents itself as a concrete response to the growing fragmentation of financial services. Until now, companies were forced to turn to different providers for traditional banking management, custody of digital assets, and payment or liquidity services, resulting in operational inefficiencies, compliance risks, and slowed access to liquidity. 

Pave Bank overcomes these obstacles by offering a unique and regulated platform where corporate and institutional clients can manage both fiat and digital assets under one roof.

Pave Bank: the innovation of the programmable bank

The core of Pave Bank‘s offering is an integrated platform that combines commercial banking services—such as deposit accounts, extensive payment coverage, FX liquidity, payment card issuance, and treasury management—with institutional-level digital asset management tools, an instant settlement network, and an OTC trading desk. Instead of having to coordinate multiple providers for fiat management, custody, and liquidity, clients can operate on both fronts through a single regulatory framework, one compliance standard, and a unified interface.

According to Salim Dhanani, co-founder and CEO of Pave Bank:

Automation and real-time management

Companies that choose Pave Bank can manage both fiat and digital assets in real-time, automate treasury operations, and reduce reliance on intermediaries. An exchange or a market maker, for example, can manage digital assets, fiat, and fixed-income treasury products in one place, interacting with their counterparts through the Pave Network. 

This approach enhances operational liquidity and reduces operational risks. Companies exploring the use of stablecoins in their operations can thus unify digital and fiat treasury with regulatory clarity and complete security, optimizing speed, control, and cost efficiency.

A sustainable and technologically advanced growth

Since its launch, Pave Bank has focused on a sustainable and technology-driven operational model, avoiding the race for growth at all costs. A remarkable achievement: the bank has reached profitability in seven of the first nine months of activity, a rare milestone for a newly licensed bank. This was made possible through the intensive use of automation and artificial intelligence in all key functions, from software engineering to compliance, from operations to treasury management. With a team of just over fifty people, the goal is to continue scaling intelligently, maintaining profitability and a central focus on risk and compliance.

Salim Dhanani highlights how Pave Bank’s clients are large companies and sophisticated institutions, who expect their bank to have the same speed and adaptability as the tech companies they collaborate with, but with the security, compliance, and oversight of a regulated financial institution. “This is the gap we are bridging,” says Dhanani.

Investor Support

Investors share the vision of Pave Bank. Rachit Parekh, partner at Accel, highlights the need for a regulated and full-reserve banking approach at the intersection of fiat and digital assets, emphasizing the role of Pave Bank as a pioneer of this infrastructural transformation. 

Ganesh Rengaswamy of Quona Capital adds that Pave’s programmable bank, with its full-reserve approach, combines the best of traditional banking and digital assets, catalyzing the adoption of stablecoins and promoting financial inclusion in global markets.

Regulation and Global Vision

The capital raising reflects the growing institutional demand for a new type of financial institution, capable of managing regulated digital assets – from stablecoins to bitcoin – while offering all the services expected from a commercial bank: instant settlement, programmable flows, and prudential supervision. Pave Bank has operated from the outset within regulatory frameworks for digital assets and, as regulations mature, works closely with authorities to ensure compliance and interoperability between different jurisdictions.

International Expansion and New Products

Looking to the future, Pave Bank intends to expand its regulatory coverage, enrich the range of programmable treasury products and institutional financial services, as well as integrate with major financial and digital asset ecosystems. The long-term goal is to become the global reference bank for companies and institutions, the meeting point between traditional and digital economy.

A Bridge Between Two Worlds: The Mission of Pave Bank

Pave Bank presents itself as a fully regulated commercial bank, built for the modern economy. It allows corporates and institutions to manage regulated fiat and digital assets side by side, thanks to an instant settlement network, stablecoin and digital asset management, programmable money flows, comprehensive payment solutions, and corporate treasury management. The mission is clear: to move money securely, intelligently, and automatically through global financial systems.

Headquartered in Singapore, with a banking license issued by the National Bank of Georgia and offices in London, Pave Bank is expanding its presence in the United Arab Emirates, the United States, Hong Kong, and the European Economic Area. A growth path that confirms the desire to be a key player in building the new global financial architecture, where tradition and innovation finally meet.