Citi Ventures, the venture capital arm of Citigroup, has made a strategic investment in BVNK, a fintech company that operates a payments rail facilitating global transactions in stablecoins.
The investment amount and BVNK’s latest valuation were not disclosed, but co-founder Chris Harmse confirmed in an interview with CNBC that the firm’s valuation now exceeds the $750 million publicly reported during its last funding round.
BVNK’s technology enables customers to seamlessly move funds between fiat currencies and stablecoins, supporting global business payments such as paying suppliers, contractors, or merchants across borders.
The company is also targeting partnerships with digital-only banks and neobanks that may use stablecoins as the backbone for their core checking accounts.
Stablecoins, which originally served as a mechanism for traders to shift quickly in and out of cryptocurrencies like Bitcoin, have evolved into a key instrument for cross-border transactions due to their low costs, speed, and 24/7 settlement capabilities.
According to Visa, stablecoin transactions reached nearly $9 trillion over the past 12 months, while CoinMarketCap data shows the total value of all stablecoins exceeds $300 billion.
Harmse highlighted that BVNK is witnessing significant growth in the U.S., its fastest-expanding market in the past 12–18 months.
This surge aligns with what many in the crypto industry view as a more supportive regulatory landscape, especially following the passage of the GENIUS Act earlier this year, a U.S. bill aimed at providing clearer guidelines for the stablecoin sector.
“You are seeing with the GENIUS Act coming through, and regulatory clarity, an explosion of demand for building on top of stablecoin infrastructure,” Harmse said.
BVNK plans to leverage this momentum to further expand globally and strengthen its role in shaping the future of stablecoin-based financial services.