Citi invests in stablecoin firm BVNK as banks deepen push into onchain settlement
Quick Take Citi Ventures has made a strategic investment in BVNK, a company providing stablecoin infrastructure for enterprises.
Citi Ventures has made a strategic investment in BVNK, a company that provides stablecoin infrastructure to enterprises, as interest from major banks in using tokenized dollars for payments and settlement has grown in recent months.
BVNK claims its platform processes over $20 billion annually and powers stablecoin services for clients, including Worldpay, Flywire, and dLocal. “Stablecoins are seeing increased interest in use for settlement of onchain and crypto asset transactions,” said Arvind Purushotham, head of Citi Ventures. Details shared in a Thursday statement did not include the specific investment sum.
However, the deal contributes to a steadily widening push by large financial institutions into regulated stablecoin activity, following the passage of the GENIUS Act in July, which created a federal regime for payment stablecoins.
The Treasury Department is now taking public comment on how to apply the rules, signaling the next phase of implementation.
Even Citi has been weighing its own offerings in the realm of tokenized money.CEO Jane Fraser said this summer the bank is considering issuing a stablecoin to bolster digital payments. The firm has also explored custody and payment services tied to stablecoins and crypto ETFs.
Banks’ interest in fiat-pegged tokens has surged alongside bigger market projections. Citi research recently lifted its 2030 base-case estimate for stablecoin issuance to $1.9 trillion, while Goldman Sachs has suggested the market could reach the trillions as more explicit rules open the door to mainstream payments and settlement use. U.S. banks have also explored collaborative approaches. As The Block reported in May, names like JPMorgan, Bank of America, and Citigroup held early talks about a joint stablecoin venture .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
21Shares Confirms Monday Launch for U.S. Spot XRP ETF
Quick Take Summary is AI generated, newsroom reviewed. 21Shares confirmed its U.S. spot XRP ETF (TOXR) is approved by the SEC and is set to launch on Monday. The ETF will track the CME CF XRP-Dollar Reference Rate, giving traditional investors easy, direct exposure to XRP's spot price. XRP is currently trading near $2.22 amid strong cumulative inflows (over $600 million) into existing U.S. spot XRP ETFs. The launch is viewed as a major test of XRP's liquidity and a significant step toward its normalization
Ethena Labs' token collection drives a 13% increase in ENA
- Ethena Labs' strategic accumulation of 150M ENA tokens triggered a 13% price surge, with $33.45M withdrawn from exchanges like Coinbase and Bybit. - On-chain data shows reduced circulating supply and $88.67M consolidated holdings, signaling long-term confidence in the token's trajectory. - Technical indicators (RSI 78, Bull Bear Power 0.0396) confirm bullish momentum, though overbought conditions suggest short-term volatility risks. - USDe's $62.45M reserves and $600M cumulative fees highlight protocol r
Bitcoin Updates: Institutions Accumulate Bitcoin Amid Technical Uncertainty—Is $98K the Key to a Bull Run?
- Texas and Harvard's $5M-$443M Bitcoin ETF investments signal growing institutional adoption despite self-custody uncertainties. - BlackRock's IBIT faces $66M redemptions amid Bitcoin's $80K-$87.6K rebound, with funds shifting to Fidelity's FBTC ETF. - Technical analysts highlight $81K-$85K support recovery and $96.8K-$98K imbalance zone as critical for confirming a sustained rally. - Macroeconomic factors like Fed rate cut expectations and $4% Treasury yields create mixed conditions for Bitcoin's specula
AI SaaS and Strategic Partnerships Transform Valuation Standards During Altseason 2025
- PetVivo transitions from 1–2x to 15–30x revenue multiples via AI SaaS, targeting $360M ARR by 2028 with 25:1 LTV/CAC ratios. - C3.ai and Revolut leverage strategic AI partnerships (Microsoft, Nvidia) to boost scalability and valuation potential amid sector growth. - CoinShares shifts U.S. strategy to specialized crypto products while Blazpay's $1.52M presale highlights AI-driven fintech demand. - Regulatory risks and market immaturity persist as challenges for AI SaaS firms and crypto players navigating
Trending news
MoreCrypto prices
More
