Pave Bank, a fully licensed commercial bank built for the era of programmable money and digital assets, announced it has raised over $39 million in funding led by Accel, with participation from Tether Investments, Quona Capital, Wintermute Ventures, Helios Digital Ventures, Yolo Investments, Kazea Fund, and GC&H Investments. The round brings the company’s total funding to more than $44 million.
It will be used to expand Pave Bank’s regulatory footprint, scale its client base across global markets, and accelerate product development for corporate and institutional customers.
Founded on the belief that the future of finance is programmable, Pave Bank aims to unify traditional banking infrastructure with regulated digital asset rails into a single platform. The company’s offering combines deposit accounts, FX liquidity, payments, and treasury management with institutional-grade custody, instant settlement, and an OTC trading desk. By operating under a single regulatory and compliance framework, businesses can manage both fiat and digital assets seamlessly in one place.
Pave Bank’s clients include exchanges, market makers, and large corporations that require faster, more efficient treasury management. The bank’s platform allows clients to automate operations, reduce counterparty risk, and operate with greater liquidity and cost efficiency. Its proprietary Pave Network facilitates instant settlements between counterparties while maintaining regulatory oversight and security.
Since its inception, Pave Bank has focused on sustainable growth and disciplined execution rather than aggressive expansion. The company achieved profitability in seven of its first nine months of operation, leveraging automation and AI across engineering, compliance, and treasury functions. With a team of just over 50 employees, Pave Bank plans to scale responsibly while maintaining its focus on prudential oversight and compliance.
The company’s investors believe Pave Bank is well-positioned to become a key bridge between regulated banking and the rapidly evolving digital financial ecosystem. As tokenization and on-chain finance continue to reshape global markets, Pave Bank is expanding its licensing coverage and developing programmable treasury products designed for the world’s largest institutions.
KEY QUOTES
“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 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.”
“The companies we serve are large, sophisticated corporations and institutions operating across markets. 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.”
Salim Dhanani, Co-Founder and Chief Executive Officer, Pave Bank
“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.”
Rachit Parekh, Partner, 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. 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.”
Ganesh Rengaswamy, Co-Founder and Managing Partner, Quona Capital
