Citi Backs Stablecoin Firm BVNK Despite Previously Opposing Crypto Payment Rails

**Citigroup Makes Strategic Pivot with $750 Million BVNK Stablecoin Investment**

Citigroup has dramatically reversed its cryptocurrency stance by investing in stablecoin infrastructure firm BVNK through Citi Ventures, valuing the blockchain company at over $750 million. This strategic move marks a significant shift for the banking giant, which previously warned against crypto payment rails and digital asset risks.

The investment comes as stablecoins demonstrate remarkable market momentum, processing an unprecedented $5 trillion in transactions within the past 30 days alone. This massive transaction volume highlights the growing institutional adoption of cryptocurrency infrastructure and decentralized finance (DeFi) solutions.

BVNK's stablecoin technology enables seamless digital payments and cross-border transactions, positioning the company at the forefront of the evolving cryptocurrency ecosystem. Citigroup's backing signals major financial institutions are embracing blockchain technology despite earlier skepticism about deposit flight risks.

This partnership reflects the broader cryptocurrency market's maturation, with traditional banks recognizing stablecoins' potential to revolutionize payment systems. The investment underscores growing confidence in digital assets as Bitcoin and cryptocurrency adoption accelerates across institutional investors, marking a pivotal moment for mainstream crypto integration.