Citi Bets Big on Blockchain Finance with Investment in BVNK

Citigroup’s recent investment in BVNK highlights a growing convergence between traditional banking and blockchain-powered financial services. Founded in 2021, BVNK specializes in infrastructure that enables businesses to utilize stablecoins for payments, settlements, and treasury operations. While the exact size of Citi’s investment remains undisclosed, sources indicate its valuation has surpassed $750 million, fueled by earlier funding from Coinbase, Tiger Global, and Visa. 2023 is seeing a surge in institutional interest in stablecoin technologies as they are viewed as key players in future global payments.