Citi Ventures Invests in UK Fintech BVNK as Stablecoin Payments Surge

Citi Ventures has made a strategic investment in BVNK, a London-based fintech company specializing in stablecoin and cross-border payment infrastructure. The funding - whose size was not disclosed - follows similar backing from Visa and BVNK's recent $50 million Series B round, underscoring growing institutional interest in blockchain-based settlement solutions.

BVNK operates as a licensed electronic money institution in the UK and EU, offering businesses named IBANs in EUR and GBP and access to local payment networks, including SEPA, SEPA Instant, and Faster Payments. Its platform enables enterprises to integrate both traditional and digital asset payments within a single system.

According to BVNK, the company processes over $20 billion annually for clients such as Worldpay, Flywire, and dLocal. The fintech positions itself as a bridge between the existing financial system and the emerging digital economy, helping payment service providers and large enterprises manage on-chain settlement and stablecoin payments securely.

The investment comes amid a surge in stablecoin usage. Visa's recent analysis reported $27 trillion in total global transaction volume across 1.25 billion stablecoin transactions in 2024 - a figure highlighting the accelerating adoption of blockchain-based payments in mainstream finance.

"Stablecoins are seeing increased interest in use for settlement of on-chain and crypto asset transactions," said Arvind Purushotham, Head of Citi Ventures. He noted that BVNK's "enterprise-grade infrastructure and proven track record" were key factors behind Citi's decision to invest.