Pave Bank, a fully licensed commercial bank built for this new financial architecture, said it has raised more than $39 million in a round led by Accel.
The fresh funding will help scale what it calls the world’s first programmable commercial bank built to operate across traditional finance and regulated digital assets.
The financing lifts total funding to over $44 million and will support licensing expansion, product development and institutional-grade infrastructure, the company said.
New investors include Tether Investments, Quona Capital, Wintermute, Helios Digital Ventures, Financial Technology Partners, Yolo Investments, Kazea Fund and GC&H Investments.
Pave Bank, which holds a banking licence from the National Bank of Georgia and has a representative office in London, is expanding in the UAE, the United States, Hong Kong and the European Economic Area.
The company offers a single platform that combines deposit accounts, payments coverage, foreign-exchange liquidity, payment cards and corporate treasury tools with digital-asset management, an instant settlement network and an over-the-counter trading desk.
The bank pitches itself as a regulated counterparty for institutions that want to manage fiat and digital assets under one framework, with programmable money flows for automated settlement.
Chief Executive Salim Dhanani said institutions need a trusted bridge between “the old and the new,” adding that Pave Bank aims to merge prudential oversight with the speed and automation of on-chain finance.
Accel’s Rachit Parekh said a well-regulated, full-reserve model at the intersection of fiat and digital assets is increasingly in demand.
Pave Bank said businesses can use its platform to automate treasury operations, manage stablecoins alongside fiat and transact with counterparties on the Pave Network to enhance liquidity and mitigate operational risk.
The company said it achieved profitability in seven of its first nine months of operation by using automation and AI across engineering, compliance, operations and treasury, and plans to “scale intelligently” with a team of just over 50 people.