Citi Ventures Invests in BVNK to Expand Digital Asset Payments
Citi Ventures Investment in BVNK
- Citi Ventures has invested in BVNK, a stablecoin infrastructure firm based in London.
- This investment enhances Citi's involvement in digital asset payments and tokenized transaction systems.
BVNK’s Operations and Valuation
- BVNK processes over $20 billion annually for clients such as Worldpay, Flywire, and dLocal.
- The company's valuation exceeds $750 million, focusing on connecting banks and payment providers with digital asset networks.
Strategic Insights
- Arvind Purushotham, head of Citi Ventures, emphasizes BVNK's stablecoin settlement infrastructure.
- BVNK CEO, Jesse Hemson-Struthers, views the partnership as a step towards faster global payments.
- Mention of stablecoin policy efforts like the proposed GENIUS Act, though it lacks official U.S. records.
Market Impact
- Citi's investment underlines its focus on digital infrastructure rather than launching its own stablecoin.
- This move aligns with efforts on tokenized deposits and blockchain custody, showing integration of stablecoin technology into regulated finance.