Citi Joins Visa in Backing Stablecoin Payments Company BVNK
- Citigroup's venture arm has strategically invested in stablecoin payments platform BVNK, joining Visa as a backer.
- The investment amount was not disclosed.
- Stablecoins have gained traction due to new regulatory frameworks in major regions like the U.S. and Hong Kong.
- BVNK processes over $20 billion in payments annually, with clients including Worldpay, Flywire, and dLocal.
- Citi Ventures highlighted the growing interest in using stablecoins for settling on-chain and crypto asset transactions.
