Market News

China’s Expansion in the Stablecoin Market: BVNK Partners with LianLian

BVNK, a London-based company facilitating stablecoin use for payment service providers, has announced a partnership with China's LianLian, enhancing cross-border payment capabilities.

This collaboration enables automatic conversion of stablecoin deposits into USD, which LianLian then routes through its expansive global network of merchants.

Stablecoins are rapidly gaining traction in the payments sector, with projections estimating this market could reach between $1.6 trillion and $3.7 trillion by 2030.

BVNK, which secured $50 million in funding last year, currently processes over $12 billion in stablecoin transactions annually and partners with notable companies like Worldpay and Visa.

LianLian, a leading payment service provider in Asia, has previously integrated Ripple’s technology for cross-border transactions.

"Through this partnership, LianLian Global's merchants can transform idle digital assets into instant cross-border payment fuel,” said BVNK CEO Jesse Hemson-Struthers.

The collaboration aims to eliminate technical barriers, ensuring businesses can access high-speed payment systems more efficiently.

As the demand for stablecoins grows, partnerships like this highlight the increasing importance of these digital assets in global commerce.

Both companies are positioned to leverage this burgeoning market, potentially leading to significant advancements in international payment dynamics.

This strategic alliance marks a critical step forward in the integration of cryptocurrency into everyday business operations across borders.