Pave Bank has raised $39 million in a funding round led by Accel, to merge traditional finance with regulated digital assets.
The new capital will support the expansion of its global operations, strengthen its regulatory presence, and enhance its institutional banking infrastructure.
The round saw participation from Tether Investments, Quona Capital, Wintermute, Helios Digital Ventures, Financial Technology Partners, Yolo Investments, Kazea Fund, and GC&H Investments. With this latest injection, Pave Bank’s total funding now exceeds $44 million.
Founded on the belief that the future of money is programmable, Pave Bank aims to provide a single, regulated platform for institutions managing both fiat and digital assets.
The bank integrates commercial banking services, such as deposits, payments, foreign exchange liquidity, and treasury management, with digital asset solutions including instant settlements and OTC trading.
“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 multi-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.”
Through its unified interface, businesses can manage fiat and digital assets in real time, automate treasury operations, and eliminate the inefficiencies of multiple intermediaries. Exchanges, corporates, and institutional investors can streamline operations, optimise liquidity, and ensure compliance, all under a single regulatory framework.
Since its inception, Pave Bank has prioritised sustainable growth and operational efficiency over rapid expansion. In its first nine months, the company recorded profitability in seven, supported by automation and technology-driven systems across compliance, treasury, and engineering functions.
Despite a lean team of just over fifty professionals, Pave Bank maintains a focus on intelligent scaling while safeguarding risk management.
“The companies we serve are large, sophisticated corporations and institutions operating across markets,” 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.”
Investors share this long-term vision. “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.
Ganesh Rengaswamy, partner at Quona Capital, also noted the potential of Pave’s model. “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.
“Pave’s programmable, full-reserve approach combines the best of traditional banking and digital assets and has the potential to catalyse widespread adoption of stablecoins, deepening financial inclusion across markets. It’s an ambitious vision grounded in real-world execution.”
The funding shows institutional trust in programmable and regulated finance is growing. Pave Bank’s hybrid model stands out as one of the few that can handle stablecoins, bitcoin, and traditional currencies under the same prudential standards.
The company will continually work closely with regulators to ensure compliance and interoperability across different jurisdictions.
Pave Bank plans to expand its licences, enhance its programmable treasury and institutional products, and strengthen ties with major financial and digital asset networks. Its long-term goal is to become the global financial institution where the traditional and digital economies converge.
