Pave Bank, a trailblazing fintech startup, has unveiled its groundbreaking venture, securing a digital banking license and a $5.2 million seed funding round.

Positioned at the nexus of traditional finance and digital assets, Pave Bank promises to redefine banking for global businesses through its programmable money revolution.

Pave Bank, founded by industry veterans from BigPay, Monzo, and VP Bank, positions itself as the world’s first fully regulated commercial bank pioneering programmable banking. The bank’s offerings include multi-currency operating accounts, global payment connectivity, and treasury management solutions.

Moreover, clients gain access to groundbreaking features like multi-asset custody, virtual IBANs, and PaveNet—an always-on network connecting Pave Bank’s global clientele. Emphasizing trust, Pave Bank operates as a full reserve bank, ensuring deposits remain untouched. This commitment to transparency and security aligns with the seismic shift towards programmable money, stablecoins, CBDCs, and tokenized real-world assets, redefining the future of financial institutions.

The $5.2 million seed funding round, led by 468 Capital with participation from prominent investors, provides the fuel for Pave Bank’s mission to give businesses worldwide access to multi-asset, regulated financial products.

Pave Bank’s innovative approach combines cutting-edge technology and full regulatory compliance, setting the stage for a new era in financial services.

Strategically commencing its regulatory journey in Georgia, Pave Bank plans to build a robust regulatory infrastructure globally. The choice of Georgia, known for its transparent regulatory architecture and geographic positioning, aligns with the bank’s ambition to become a financial services hub. As the financial landscape transforms globally, Pave Bank stands poised at the forefront, offering businesses secure and regulated platforms for transactions in stablecoins, CBDCs, and tokenized real-world assets.

In an era where the financial sector is undergoing unprecedented transformation, Pave Bank’s launch marks a pivotal moment in the convergence of traditional finance and the digital economy.

The post World's first programmable bank Pave Bank launches with a $5.2M seed round appeared first on Invezz

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