Citi Ventures Invests in Stablecoin Infrastructure Platform BVNK
Citi Ventures has made a strategic investment in BVNK, a platform that provides infrastructure for stablecoins. This move highlights growing interest from traditional finance in digital assets.
BVNK, supported by investors like Visa, Haun Ventures, and Tiger Global, helps businesses move money using stablecoins. The company works with global payment firms such as Worldpay, Deel, and dLocal to speed up cross-border transactions.
Jesse Hemson-Struthers, Co-Founder and CEO of BVNK, said the investment shows the rising role of stablecoins in cross-border payments. He added, “Our platform enables companies to harness stablecoins to move money quickly across borders and launch innovative financial products with enterprise-ready security and compliance.”
BVNK processes over $20 billion in transactions annually for international businesses and payment providers.
Arvind Purushotham, Head of Citi Ventures, said, “Stablecoins are seeing increased use for on-chain and crypto transactions.” He cited BVNK’s enterprise-level technology and strong track record as reasons for the investment.
Growing Interest in Stablecoins Among Banks
The investment reflects a broader trend of major financial institutions entering the stablecoin market. The GENIUS Act, passed in July, created a federal framework for payment stablecoins in the U.S. The Treasury Department is now seeking public input on implementing these rules.
Goldman Sachs projects the stablecoin market could grow into the trillions as regulatory clarity improves. Citigroup’s report forecasts the global market could reach $1.9 trillion in a base case and $4 trillion in a bull case by 2030. It may support up to $100 trillion in annual transactions, though cross-border payments might remain slower than domestic systems.
Earlier this year, U.S. banks including JPMorgan, Bank of America, and Citigroup held early talks about collaborating on stablecoin infrastructure.
Citi Explores Issuing Its Own Stablecoin
Citi is actively exploring digital money initiatives. CEO Jane Fraser said in July the bank is considering issuing its own stablecoin. This would enhance digital payments and support Citi’s broader push into blockchain-based financial services.
For more details, see the official announcement.
