Stablecoin infrastructure company BVNK has received investment from a venture capital firm under Citigroup

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

BVNK provides a stablecoin payment rail that supports two-way settlement between fiat and crypto assets; co-founder Chris Harmse stated that the company's valuation is above the previously disclosed $750 million. Its growth in the U.S. market is the fastest, driven by the U.S. stablecoin regulatory bill GENIUS Act. Citi is evaluating the issuance of its own stablecoin and expanding crypto custody. In the past 12 months, stablecoin trading volume has approached $9 trillion (Visa), with a total market capitalization exceeding $300 billion (CoinMarketCap). BVNK is also supported by Coinbase and Tiger Global.