Citi invests in stablecoin firm BVNK as Wall Street deepens crypto push
Citigroup’s venture arm invested in London-based stablecoin firm BVNK as Wall Street accelerates its push into blockchain-powered payments.
Citigroup’s venture arm, Citi Ventures, has invested in BVNK, a London-based stablecoin infrastructure firm building global payment rails for digital assets.
BVNK declined to disclose the size of Citi’s investment or its current valuation. However, co-founder Chris Harmse told CNBC that its valuation now exceeds the $750 million reported at its last funding round. The firm was already backed by major investors, including Coinbase and Tiger Global.
“You’re seeing an explosion of demand for building on top of stablecoin infrastructure,” Harmse told CNBC.