PANews reported on October 9th that CNBC reported that Citi Ventures has invested an undisclosed amount in BVNK, a stablecoin infrastructure startup. BVNK provides a stablecoin payment rail that supports two-way settlement between fiat and crypto assets. Co-founder Chris Harmse stated that the company's valuation is higher than the $750 million publicly disclosed in the previous round. Its fastest growth is in the US market, driven by the GENIUS Act, a US stablecoin regulatory bill. Citi is evaluating issuing its own stablecoin and expanding into crypto custody. Stablecoin trading volume reached nearly $9 trillion in the past 12 months (Visa), with a total market capitalization exceeding $300 billion (CoinMarketCap). BVNK is also backed by Coinbase and Tiger Global.