Griffin Raises $20 Million to Build Stablecoin Payment Services

Griffin raised $20 million in a Series B announced Nov. 12 at a valuation above $100 million, funding plans to add stablecoin services and card products to its U.K. banking platform.

Octagon Partners led the round. Notion Capital, A+ Ventures, Nordic Ninja and Breega also participated. Griffin plans to use the funding for branded debit cards for consumers and companies, followed later by credit cards, as well as stablecoin reserve services and on-chain cross-border payments.

Stablecoins are crypto assets designed to maintain a stable value. Griffin CEO and co-founder David Jarvis described the planned additions as “cards and stablecoins are the natural next layer for our infrastructure.”

The platform serves more than 80 companies and over 300,000 retail and business customers. It processes nearly 10 million payments per year.

Recurring revenue grew 3.2x year over year in the financial year ended September 2026. The figure is based on unaudited accounts and may change after the statutory audit. Griffin did not provide launch dates for the planned services.