Citi Ventures Invests in BVNK Stablecoin Payments Platform Following Visa Backing

Citi Ventures, the investment division of global banking giant Citigroup (C), has announced a strategic investment in BVNK's stablecoin payment infrastructure. This move follows Visa's (V) earlier investment in the stablecoin platform made in May, though specific investment amounts remain undisclosed. The stablecoin sector has demonstrated remarkable growth within digital assets, accelerated by regulatory frameworks in key markets like the United States and Hong Kong. This regulatory clarity has attracted major traditional finance (TradFi) institutions including Citi and Visa. BVNK currently processes over $20 billion in annual payments, serving major clients like Worldpay, Flywire, and dLocal. "Stablecoins are gaining significant traction for settling on-chain and crypto asset transactions," stated Arvind Purushotham, Head of Citi Ventures.