Stablecoin Startup BVNK Gets Backing from Citi Ventures

Last Updated on October 9, 2025

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Key Takeaways:

  • Citi Ventures invested in BVNK, boosting the stablecoin infrastructure firm’s valuation above $750 million.
  • BVNK’s U.S. growth surged due to regulatory clarity and the GENIUS Act, attracting institutional interest.
  • Citi projects the stablecoin market could hit $4 trillion by 2030, highlighting its deepening involvement in digital assets.

Citigroup’s venture arm, Citi Ventures, has invested in BVNK, a London-based company developing stablecoin infrastructure and digital asset payment systems

While the investment size was undisclosed, BVNK’s valuation now exceeds $750 million, according to co-founder Chris Harmse

The firm – backed by Coinbase, Tiger Global, and Visa – is experiencing rapid growth in the United States, its fastest-expanding market over the past 18 months, driven by improved regulatory clarity under the newly passed GENIUS Act.

The GENIUS Act provides clear oversight for stablecoins, spurring major U.S. banks like Citi to invest in the sector. 

The move aligns with Citi’s broader digital asset strategy; CEO Jane Fraser confirmed in July that the bank is exploring its own stablecoin and crypto custody services.

By September, Citi projected the stablecoin market could reach $4 trillion by 2030, up from previous estimates. 

BVNK’s earlier $50 million Series B was led by Haun Ventures

Meanwhile, the Bank of England is reassessing its proposed caps on stablecoin holdings after industry feedback – signaling a shift toward more flexible regulations for crypto-related firms.

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