Lucía Peña
Tether Investments has participated in a $39 million Series A funding round aimed at scaling Pave Bank, which positions itself as the “world’s first programmable bank built for the digital asset and AI era”, according to an official statement released Thursday.
Salim Dhanani, co-founder and CEO of Pave Bank, highlighted the bank’s mission: “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 oversight of traditional finance with the speed, automation, and intelligence of digital assets.”
Pave Bank aims to serve clients with needs across both fiat and digital assets, offering a full suite of commercial banking services. Licensed in Georgia, the bank intends to use the new capital to expand its regulatory footprint, accelerate product development, build institutional-grade infrastructure, and scale client coverage globally.
Diverse Investors Back the Vision
Tether, known for its profitable stablecoin operations, holds a broad investment portfolio spanning payment infrastructure, renewable energy, Bitcoin, agriculture, artificial intelligence, and tokenization. The Series A round was led by Accel, with participation from Wintermute, Quona Capital, Helios Digital Ventures, and others.
Driving Financial Inclusion Through Programmable Banking
Ganesh Rengaswamy of Quona Capital emphasized Pave Bank’s innovative approach: “Pave’s programmable, full-reserve model combines the best of traditional banking and digital assets and has the potential to catalyze widespread adoption of stablecoins, deepening financial inclusion across markets.”
This funding positions Pave Bank at the forefront of next-generation banking, combining regulatory compliance, digital asset infrastructure, and AI-driven solutions to reshape how institutions interact with both fiat and crypto markets.
