Citi Ventures has made a strategic investment in BVNK, a platform that provides infrastructure for stablecoins, signaling growing interest from traditional finance in digital assets.
According to the official announcement, BVNK, which has already received support from investors like Visa, Haun Ventures, and Tiger Global, helps businesses move money using stablecoins.
Jesse Hemson-Struthers, Co-Founder and CEO of BVNK, said the investment reflects the growing role of stablecoins in facilitating cross-border payments. “Our platform enables companies to harness stablecoins to move money quickly across borders and launch innovative financial products with enterprise-ready security and compliance,” Jesse added.
BVNK develops the systems that help businesses use stablecoins in financial services, working with global payment firms such as Worldpay, Deel, and dLocal to make cross-border transactions faster and more efficient. The company handles over $20 billion of transactions annually for international businesses and payment providers.
“Stablecoins are seeing increased use for on-chain and crypto transactions,” said Arvind Purushotham, Head of Citi Ventures. He noted BVNK’s enterprise-level technology and its strong track record as reasons for the investment.
The deal underscores how major financial institutions are moving further into the stablecoin market. The GENIUS Act, passed in July, established a federal framework for payment stablecoins in the U.S., and the Treasury Department is now seeking public input on how to implement the rules.
Banks eye stablecoins
Interest in stablecoins among major banks has recently increased alongside projections of wider adoption. Goldman Sachs has projected the market may grow into the trillions as regulatory clarity improves.
Citigroup’s latest report projects the global stablecoin market could reach $1.9 trillion in a base case and $4 trillion in a bull case by 2030, supporting up to $100 trillion in annual transactions, though cross-border payments may remain slower than domestic systems.
Earlier this year, U.S. banks, including JPMorgan, Bank of America, and Citigroup, reportedly held early discussions about possible collaboration on stablecoin infrastructure.
Citi itself has explored digital money initiatives. CEO Jane Fraser said in July that the bank is considering issuing its own stablecoin to enhance digital payments as part of a broader push into blockchain-based financial services.
