Accel, Tether, Others Pump $39m Into Pave Bank

By Modupe Gbadeyanka

The sum of $39 million has been raised by a fully licensed commercial bank in the United Kingdom, Pave Bank, to scale world’s first programmable bank built for digital assets and artificial intelligence (AI) era.

Much of the funds came from Accel, with support from Tether Investments, Quona Capital, Wintermute, Helios Digital Ventures, Financial Technology Partners, Yolo Investments, Kazea Fund, and GC&H Investments.

The lender will use the money from the fresh capital raising to expand its regulatory footprint, accelerate product development, continue to build institutional grade infrastructure and scale its client coverage across global markets.

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.

“The global financial system is moving towards regulated on-chain finance, and institutions need a trusted bridge between the old and the new.

“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,” the chief executive and co-founder of Pave Ban, Mr Salim Dhanani, stated.

Also commenting, a partner at Accel, Rachit Parekh, said, “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.”

Business Post gathered that with this $39 million in funding secured by Pave Bank, its total funding have risen more than $44 million.

The firm was established 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.