Citi made an investment in BVNK together with Visa.

Citi Ventures Joins Visa in BVNK Investment

Citigroup's venture arm, Citi Ventures, has made a strategic investment in the stablecoin payment platform BVNK. This development was announced by the companies on Thursday. Visa joined Citi’s support following its investment in BVNK in May of this year. The size of the investment has not yet been disclosed.

BVNK has an annual payment processing capacity of over $20 billion and counts major clients like Worldpay, Flywire, and dLocal. Over the past year, the growth of the stablecoin sector has emerged as one of the standout trends in the digital asset industry. During this process, regulatory frameworks in key regions such as the U.S. and Hong Kong have facilitated investments from major names in traditional finance.

Citi Ventures manager Arvind Purushotham stated, "Stablecoins are seeing increasing interest in their use for the settlement of on-chain and crypto asset transactions."