There is no specific text provided in the Query to rewrite. However, I can create a general blog post based on the topic “Citi backs stablecoin firm BVNK as Wall Street warms to crypto.” Here is a rewrite in about 200 words:

Citi Ventures has made a strategic investment in BVNK, a global stablecoin infrastructure platform. This move highlights the growing interest in digital asset-based infrastructure, following recent backing from top investors like Visa, Haun Ventures, and Tiger Global.

BVNK’s platform is designed to facilitate the global movement of money using stablecoins. It processes over $20 billion annually for multinational enterprises and payment service providers, serving companies like Worldpay, Flywire, and dLocal. Stablecoins are gaining popularity for settling on-chain and crypto asset transactions due to their stability relative to other cryptocurrencies.

The investment comes as regulatory clarity emerges globally, with frameworks like the GENIUS Act in the U.S. enabling banks to issue stablecoins. This investment reflects the accelerating trend of institutional adoption in the crypto space, particularly regarding stablecoins. Citi Ventures is driving innovation in financial services by supporting startups like BVNK, which help reimagine the financial landscape with digital assets.

As the use of stablecoins expands, companies are leveraging them to move money quickly across borders and launch innovative financial products securely. With BVNK’s expansion into the U.S. market and its partnership with Paxos, stablecoin payments are now available across all 50 states, including New York. This marks a significant step in integrating stablecoins into mainstream financial services.