Forget Bitcoin & Ethereum — Citi’s Stablecoin Bet Could Spark A $1.9 Trillion Boom By 2030
Citigroup Inc. (NYSE:C) has quietly joined Wall Street’s stablecoin race, investing in U.K.-based BVNK as banks prepare for what could become a $1.9 trillion market for tokenized dollars.
Citi Deepens Push Into Tokenized Money
The deal came through Citi Ventures on Thursday. BVNK handles over $20 billion in annual transactions for clients such as Worldpay, Flywire, and dLocal.
“Stablecoins are gaining traction in on-chain settlement and asset payments,” said Arvind Purushotham, head of Citi Ventures. The bank did not disclose the deal’s size.
Citi joins peers accelerating into the regulated stablecoin sector after the GENIUS Act took effect in July. The new law gives U.S. banks authority to issue and manage payment stablecoins under Treasury oversight.
From Bitcoin Skepticism To Dollar Tokenization
Citi’s move marks a sharp shift …
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