The line between traditional banking and digital assets is disappearing fast. Pave Bank, a fully licensed commercial bank built for this new era of programmable finance, has raised $39 million in fresh funding led by Accel, with participation from Tether Investments, Quona Capital, Wintermute Ventures, and others.
The round brings its total funding to over $44 million and positions the bank to expand its global presence, deepen its regulatory footprint, and scale its institutional-grade infrastructure.
The company was built on a simple idea — money is becoming programmable, and businesses need a trusted, regulated institution that can handle both fiat and digital assets without friction. Pave Bank brings those pieces together under one roof. Its platform combines deposit accounts, global payments, FX liquidity, card issuance, and corporate treasury tools with digital asset management, instant settlement, and OTC trading — all under one compliance framework.
“The global financial system is moving towards regulated on-chain finance, and institutions need a trusted bridge between the old and the new,” Pave Bank Co-Founder and CEO Salim Dhanani said in a news release. “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.”
For clients, that means being able to manage both fiat and digital assets in real time, automate treasury operations, and reduce reliance on intermediaries. Exchanges and corporates can settle trades, manage liquidity, and move capital instantly — while staying within a regulated environment.
Pave Bank’s disciplined approach stands out in a market often driven by hype. The company says it achieved profitability in seven of its first nine months of operation by automating much of its engineering, compliance, and treasury processes. With a team of just over fifty people, it’s scaling deliberately while staying profitable and focused on compliance.
“The companies we serve are large, sophisticated corporations and institutions operating across markets,” Dhanani said. “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.”
Accel’s Rachit Parekh agrees. “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.”
Quona Capital’s Ganesh Rengaswamy added that Pave’s programmable, full-reserve model “has the potential to catalyze widespread adoption of stablecoins, deepening financial inclusion across markets.”
With backing from top investors and early traction among institutional clients, Pave Bank is positioning itself as a bridge between the financial system that exists and the one being rebuilt on-chain. The company holds a banking license from the National Bank of Georgia, operates a representative office in London, and is expanding into the UAE, the U.S., Hong Kong, and the European Economic Area.
Pave Bank’s long-term goal is clear: to become the trusted institution where the traditional and digital economies finally operate as one.
