The US Venture arm Multinational Bank Citigroup (C) has made a stable investment in Stablecoin Payment Platform BVNK, Companies announced on Thursday.
Citi Ventures joined Visa (V) in support of BVNK, after giant payments are self -sufficient Strategic investment in the company in May this year.
Companies do not disclose investment size.
The growth of the StableCoin sector as one of the standout trends in the digital asset industry last year, has helped part by the introduction of the formal regulation regulation in major constituents such as The US and Hong Kong.
It gave a tail to investment from the biggest names in the traditional financial world (Tradfi) such as Citi and Visa.
BVNK processes more than $ 20 billion in payments annually and counts WorldPay, Flywire and Dlocal to its clients, according to Thursday’s announcement.
“Stablecoins see an increase in interest used for settlement of on-chain and crypto asset transactions,” Citi Ventures Head Arvind Purushotham said.
