Stablecoin infrastructure company BVNK receives investment from Citi Ventures

ChainCatcher news, according to market sources, Citi Ventures has invested in stablecoin infrastructure startup BVNK, with the amount undisclosed.

BVNK provides stablecoin payment rails, supporting two-way settlement between fiat and crypto assets. Co-founder Chris Harmse stated that the company's valuation is higher than the previously disclosed $750 million in the last round. Its US market is growing the fastest, driven by the US stablecoin regulatory bill GENIUS Act. Citi is evaluating issuing its own stablecoin and expanding crypto custody. In the past 12 months, stablecoin transaction volume reached nearly $9 trillion (Visa), with a total market cap exceeding $300 billion (CoinMarketCap). BVNK is also backed by an exchange and Tiger Global.