The post Citi invests in stablecoin firm BVNK, its valuation now exceeds $750M appeared on BitcoinEthereumNews.com. Key Takeaways Citi has invested in stablecoin infrastructure company BVNK through its venture capital arm. BVNK co-founder Chris Harmse confirmed the company’s current valuation exceeds its previously reported $750 million mark. Citi Ventures, Citigroup’s venture capital arm, has invested in BVNK, a London-based stablecoin payment infrastructure provider, pushing the startup’s valuation above $750 million, said Chris Harmse, co-founder of BVNK, in a recent interview with CNBC. The size of Citi’s investment remains under wraps. The deal comes after BVNK secured backing from Visa Ventures in May, which marked Visa’s first major step into the stablecoin infrastructure. Like Visa, Citi has been exploring ways to integrate digital assets into its operations. The bank is reportedly considering offering custody services for stablecoins and the assets backing crypto exchange-traded funds. Stablecoin transaction volume has reached nearly $9 trillion over the past 12 months, according to Visa, with the total market value of existing stablecoins surpassing $300 billion, based on CoinMarketCap data. Last month, analysts at Citi revised their forecast for the stablecoin market, predicting its market cap will reach $4 trillion by 2030. Stablecoins, according to Citi, will not disrupt the banking sector but will contribute to reimagining the financial system, alongside innovations such as tokenized bank deposits. BVNK is rapidly expanding its US operations with full 50-state coverage, a strong regulatory footing, and growing transaction volumes. The company recently established offices in San Francisco and New York City, building a strong US presence. “You are seeing with the GENIUS Act coming through, and regulatory clarity, an explosion of demand for building on top of stablecoin infrastructure,” Harmse told CNBC. The US has become BVNK’s fastest-growing market over the last 12-18 months. Source: https://cryptobriefing.com/citi-stablecoin-infrastructure-bvnk/The post Citi invests in stablecoin firm BVNK, its valuation now exceeds $750M appeared on BitcoinEthereumNews.com. Key Takeaways Citi has invested in stablecoin infrastructure company BVNK through its venture capital arm. BVNK co-founder Chris Harmse confirmed the company’s current valuation exceeds its previously reported $750 million mark. Citi Ventures, Citigroup’s venture capital arm, has invested in BVNK, a London-based stablecoin payment infrastructure provider, pushing the startup’s valuation above $750 million, said Chris Harmse, co-founder of BVNK, in a recent interview with CNBC. The size of Citi’s investment remains under wraps. The deal comes after BVNK secured backing from Visa Ventures in May, which marked Visa’s first major step into the stablecoin infrastructure. Like Visa, Citi has been exploring ways to integrate digital assets into its operations. The bank is reportedly considering offering custody services for stablecoins and the assets backing crypto exchange-traded funds. Stablecoin transaction volume has reached nearly $9 trillion over the past 12 months, according to Visa, with the total market value of existing stablecoins surpassing $300 billion, based on CoinMarketCap data. Last month, analysts at Citi revised their forecast for the stablecoin market, predicting its market cap will reach $4 trillion by 2030. Stablecoins, according to Citi, will not disrupt the banking sector but will contribute to reimagining the financial system, alongside innovations such as tokenized bank deposits. BVNK is rapidly expanding its US operations with full 50-state coverage, a strong regulatory footing, and growing transaction volumes. The company recently established offices in San Francisco and New York City, building a strong US presence. “You are seeing with the GENIUS Act coming through, and regulatory clarity, an explosion of demand for building on top of stablecoin infrastructure,” Harmse told CNBC. The US has become BVNK’s fastest-growing market over the last 12-18 months. Source: https://cryptobriefing.com/citi-stablecoin-infrastructure-bvnk/