Citi Ventures Invests in BVNK, Joining Visa’s Support for Stablecoin Growth
- Citi Ventures has made a strategic investment in stablecoin payments platform BVNK.
- This follows Visa’s investment in BVNK made earlier this year in May.
- The size of the investments from both Citi and Visa has not been disclosed.
- BVNK processes over $20 billion in payments annually and serves clients like Worldpay, Flywire, and dLocal.
- The stablecoin sector has seen significant growth due to new regulatory frameworks in the U.S. and Hong Kong.
The involvement of major financial players like Citi and Visa highlights the increasing interest in stablecoins for on-chain transactions and crypto asset settlements. This trend is supported by the evolving regulatory landscape that encourages traditional finance (TradFi) investments into digital assets.
Citi’s investment comes as part of a broader trend where leading financial institutions are backing companies like BVNK, which processes over $20 billion in payments annually. (Source)
