Citigroup, JPMorgan, and Goldman Sachs Step Up Bets on Financial Blockchain
- Citigroup and Goldman Sachs Expand Blockchain Presence
- JPMorgan bets on tokenization with its own platform
- Banks target infrastructure, custody, and digital payments
From 2020 to 2024, global financial institutions made more than 340 investments in startups and projects linked to the blockchain ecosystem, with 33 rounds exceeding the US$100 million mark. According to a recent survey, systemically important banks (G-SIBs) led 106 of these strategic investments.
Citigroup and Goldman Sachs lead this movement with 18 investments each in blockchain initiatives. Close behind are JPMorgan Chase and Mitsubishi UFJ Financial Group, both with 15 investments. Most of these investments were in early development phases, primarily seed and Series A rounds, indicating a search for promising solutions aligned with the future of financial infrastructure.
The funding focuses on tokenized trading platforms, digital payment solutions, and blockchain-based custody services. JPMorgan stood out for internally testing the Kinexys network and executing a transaction with tokenized U.S. Treasury bonds, in partnership with Chainlink and Ondo Finance. Citigroup and Goldman have formed alliances to explore the potential of asset tokenization and the modernization of capital markets processes.
Another notable example is the international payments platform Partior, which raised $111 million in a Series B funding round in 2024. The project received financial backing from JPMorgan and Standard Chartered. HQLAx, a company specializing in blockchain-powered securities financing solutions, also attracted investments from major banks such as Citigroup, Goldman Sachs, and JPMorgan.
The report points out that, rather than outright acquisitions, banks have preferred partnership models and minority stakes in companies in the sector. Following the impact of the FTX collapse in 2022 and the 2023 downturn, interest grew again in 2024, fueled by greater regulatory clarity in major financial centers.
The Boston Consulting Group expects tokenized assets of real-world assets to surpass $18 trillion by 2033, fueling interest from major institutions. At the same time, regional banks are also beginning to explore this market through integrations with fintechs and public platforms. A 2022 survey revealed that 11% of community banks in the US were already considering offering cryptocurrency-related services.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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