Citi Ventures Backs Stablecoin Firm BVNK As Wall Street Deepens Crypto Push

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Citigroup’s venture arm, Citi Ventures, has invested in BVNK, a London-based stablecoin infrastructure firm building global payment rails for digital assets.

BVNK declined to disclose the size of Citi’s investment or its current valuation. However, co-founder Chris Harmse told CNBC that its valuation now exceeds the $750 million reported at its last funding round. The firm was already backed by major investors, including Coinbase and Tiger Global.

“You’re seeing an explosion of demand for building on top of stablecoin infrastructure,” Harmse…



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Citi Ventures Backs Stablecoin Firm BVNK As Wall Street Deepens Crypto Push


Citigroup’s venture arm, Citi Ventures, has invested in BVNK, a London-based stablecoin infrastructure firm building global payment rails for digital assets.

BVNK declined to disclose the size of Citi’s investment or its current valuation. However, co-founder Chris Harmse told CNBC that its valuation now exceeds the $750 million reported at its last funding round. The firm was already backed by major investors, including Coinbase and Tiger Global.

“You’re seeing an explosion of demand for building on top of stablecoin infrastructure,” Harmse…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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