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Pave Bank announces fundraising led by Accel to expand its corporate and institutional bank offering that unifies traditional finance with regulated digital assets.
Singapore / London, UK / Tbilisi, Georgia – October 23, 2025; The future of finance is shifting on-chain. As that shift accelerates, the world’s financial system is being rebuilt around tokenisation, the programmability of money and assets, along with a focus on regulation, risk and compliance. Pave Bank, a fully licensed commercial bank built for this new financial architecture, today announced it has raised over $39 million in funding led by Accel, with participation from Tether Investments, Quona Capital, Wintermute, Helios Digital Ventures, Financial Technology Partners, Yolo Investments, Kazea Fund, and GC&H Investments. The round brings the company’s total funding to more than $44 million and positions Pave Bank to expand its regulatory footprint, accelerate product development, continue to build institutional grade infrastructure and scale its client coverage across global markets.
Pave Bank was founded on two core ideas: that the future of money is programmable, and that businesses need a regulated, bank-grade counterparty capable of operating seamlessly across both traditional and digital asset rails. Today, the company offers a single platform that unifies commercial banking services – deposit accounts, broad payment coverage, deep FX liquidity, payment card issuance and corporate treasury management – with institutional-grade digital asset management, an instant settlement network and an OTC trading desk. Instead of managing multiple providers for fiat banking, custody, and liquidity, clients can operate across both systems under one regulatory framework, one compliance standard, and one interface.
“The global financial system is moving towards regulated on-chain finance, and institutions need a trusted bridge between the old and the new,” said Salim Dhanani, Co-Founder and CEO of Pave Bank. “We have built a mulit-asset bank that merges the stability and prudential oversight of traditional finance with the automation, speed, and intelligence of digital assets. This is about redefining how money moves safely, transparently, and automatically across the world’s financial systems.”
Businesses using Pave Bank can manage both fiat and digital assets in real time, automate treasury operations, and reduce reliance on intermediaries. An exchange or market maker can manage both digital assets, fiat and fixed income treasury products in one place, and at the same time, deal with their counterparties using the Pave Network – enhancing operational liquidity and mitigating operational risk. Corporates exploring using stablecoins in their operations can unify digital assets and fiat corporate treasuries with regulatory clarity and in a secure manner – improving speed, control, and cost efficiency.
Since launching, Pave Bank has focused on building a sustainable, technology-driven operating model rather than chasing top-line growth. The company achieved profitability in seven of its first nine months of operation – a rare milestone for a newly licensed bank – by leveraging automation and AI across software engineering, compliance, operations, and treasury functions. With a team of just over fifty people, the bank expects to continue to scale intelligently while maintaining profitability along with a core focus on risk and compliance.
“The companies we serve are large, sophisticated corporations and institutions operating across markets,” Salim Dhanani added. “They expect their bank to be as fast and adaptive as the technology companies they partner with, but with the security, compliance, and oversight of a regulated financial institution. That’s the gap we’re closing.”
Pave Bank’s backers share this conviction. “As digital assets become an integral part of the global financial ecosystem, there is a strong need for a well regulated, full reserve approach to banking at the intersection of fiat and digital assets. Pave Bank is at the forefront of this fundamental shift in how financial infrastructure operates and we are excited to partner with them,” said Rachit Parekh, Partner at Accel.”
“By powering mainstream fintechs and digital platforms through its programmable banking infrastructure, Pave is leading the new age transformation in financial services and enhancing the experience for end-users.” said Ganesh Rengaswamy, Quona Capital. “Pave’s programmable, full-reserve approach combines the best of traditional banking and digital assets and has the potential to catalyze widespread adoption of stablecoins, deepening financial inclusion across markets. It’s an ambitious vision grounded in real-world execution.”
The financing reflects growing institutional demand for a new kind of financial institution – one that can manage regulated digital assets, from stablecoins to bitcoin, alongside everything that is expected from a commercial bank, provide instant settlement and programmable flows, and have prudential oversight. Pave Bank has been building within regulatory frameworks for digital assets from day one, and as these regulations mature and harmonize, Pave Bank is working directly with regulators to ensure compliance and interoperability across jurisdictions.
Looking ahead, Pave Bank plans to expand its licensing coverage, deepen its programmable treasury and institutional financial products, and integrate with major financial and digital asset ecosystems. The long-term vision is to become the trusted corporate and institutional global financial institution -the place where the traditional and digital economies finally operate as one.
About Pave Bank
Pave Bank is a fully regulated programmable commercial bank built for the modern economy. We enable corporates and institutions to run fiat and regulated digital assets side by side – with an instant settlement network, stablecoin and digital asset management, programmable money flows, comprehensive payment solutions and corporate treasury management. Our mission is to make money move safely, intelligently, and automatically across the world’s financial systems.
Pave Bank, with a Singaporean holding company, holds a banking license issued by the National Bank of Georgia and a bank representative office in London, United Kingdom. Pave Bank is in the process of expanding its presence globally with offices in the United Arab Emirates, the United States of America, Hong Kong and within the European Economic Area.
About Accel
Accel is a global venture capital firm that is the first partner to exceptional teams everywhere, from inception through all phases of private company growth. Atlassian, Browserstack, Bumble, CrowdStrike, Facebook, FalconX, Freshworks, Flipkart, Qualtrics, Scale, Segment, Slack, Spotify, Swiggy, and UiPath are among the companies Accel has backed over the past 40+ years. We help ambitious entrepreneurs build iconic global businesses. For more, visit www.accel.com or @Accel on X.
About Tether Investments
Tether Investments is the dedicated investment arm of Tether, the issuer of the world’s largest stablecoin. With global reach, Tether Investments deploys capital from Tether’s profits to back pioneering founders and companies at the intersection of technology, infrastructure and real-world utility. From frontier markets to advanced digital ecosystems, Tether Investments partners with teams building the platforms, protocols and innovations that shape the future of finance and commerce. For more, visit www.tether.io or follow @Tether_to on X.
About Quona Capital
Quona Capital is a leading global venture capital firm dedicated to investing in innovative technology companies that drive financial inclusion and economic opportunity in emerging markets. With a focus on Africa, the Middle East, Latin America, India, and Southeast Asia, Quona partners with visionary entrepreneurs building scalable solutions for consumers and SMEs. Our team brings deep fintech expertise and hands-on experience across both emerging and developed markets, backing businesses that drive financial inclusion while delivering strong financial returns. Learn more at www.quona.com.
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Image source: pavebank.com
