Overview

• Citi Ventures made a confirmed strategic investment in BVNK, with the companies declining to disclose the deal size.
• Co-founder Chris Harmse said BVNK’s valuation now exceeds $750 million, and the firm processes over $20 billion annually for clients including Worldpay, Flywire and dLocal.
• BVNK reports the United States is its fastest-growing market over the past 12–18 months, citing demand after the GENIUS Act clarified stablecoin oversight.
• Citi joins prior backers such as Visa, Coinbase and Tiger Global, as Citi has publicly explored a possible bank-issued stablecoin and crypto custody services.
• Fortune reports Coinbase and Mastercard have held advanced talks to acquire BVNK for $1.5 billion to $2.5 billion, a development the parties did not comment on and that remains unconfirmed.