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Citi Joins Visa in Backing Stablecoin Payments Company BVNK
Yahoo Financeยท 2025-10-09 10:05
Group 1 - Citigroup's venture arm has made a strategic investment in stablecoin payments platform BVNK, joining Visa in backing the company [1] - The size of the investment from Citigroup has not been disclosed [1] - The stablecoin sector has experienced significant growth, aided by formal regulatory frameworks in major jurisdictions like the U.S. and Hong Kong [2] Group 2 - BVNK processes over $20 billion in payments annually and has notable clients including Worldpay, Flywire, and dLocal [3] - There is increasing interest in stablecoins for the settlement of on-chain and crypto asset transactions, as noted by Citi Ventures head Arvind Purushotham [3]