TL;DR:
- Tether invested in Pave Bank’s $39M Series A, supporting the world’s first programmable bank for fiat and digital assets.
- Pave Bank enables real-time asset management, treasury automation, and reduces reliance on intermediaries.
- The bank merges traditional finance stability with AI and digital asset automation, aiming to expand globally, enhance institutional infrastructure, accelerate product development, and promote stablecoin adoption while increasing financial inclusion for clients and institutions worldwide.
Tether Investments joined a $39 million Series A funding round to scale Pave Bank, the world’s first programmable bank built for the digital assets and AI era. The round, led by Accel, also saw participation from Wintermute, Quona Capital, Helios Digital Ventures, and others. Pave Bank plans to use the capital to expand globally, enhance products, and strengthen its institutional infrastructure.
The bank, licensed in Georgia, is designed for clients needing access to both fiat and digital assets. Businesses using Pave Bank can manage assets in real time, automate treasury operations, and reduce reliance on intermediaries. CEO and co-founder Salim Dhanani emphasized that the bank merges traditional financial stability with the automation and intelligence of digital assets.
Pave Bank’s Vision for On-Chain Finance
Pave Bank aims to be a bridge for institutions transitioning to regulated on-chain finance. The bank combines stability and prudential oversight with digital asset speed and automation. Its Series A funds will accelerate product development, expand regulatory reach, and scale client coverage across global markets.
Tether, known for its profitable stablecoin business, has a diverse investment portfolio spanning payments, AI, renewable energy, Bitcoin, and tokenization. Participation in Pave Bank reflects Tether’s strategy to invest in infrastructure that deepens financial inclusion and stablecoin adoption. The investment underscores the growing trend of merging traditional banking services with programmable digital solutions.
Pave Bank’s model is full-reserve and programmable, aiming to support institutional adoption. By offering a multi-asset platform with AI integration, it positions itself to catalyze broader stablecoin use and modernize financial services. Investors and analysts note that the bank could set a precedent for future programmable banking ventures.
