Major Financial Institutions Drive Blockchain Investment Boom with 345 Deals Since 2020, Including Citigroup, JP Morgan, Goldman Sachs, and SBI Group
In a significant shift towards long-term blockchain integration, the most active banks funding blockchain startups between 2020 and 2024 have been Citigroup, Goldman Sachs, JPMorgan Chase, and Japan’s SBI Group. These financial giants collectively participated in a total of 345 funding rounds during this period, with Citigroup and Goldman Sachs each closing 18 deals, and JPMorgan Chase and Mitsubishi UFJ completing 15 deals each.
These banks have shown a particular focus on early-stage investments but also participated in 33 mega-rounds valued at $100 million or more. The sectors primarily funded include trading infrastructure, tokenization, custodial services, payment solutions, and programmable payments, as well as digital settlements.
Notable examples of large investments include Brazil’s CloudWalk, which raised over $750 million with funding from Banco Itaú, and Germany’s Solaris, which secured over $100 million from SBI Group. Global Systemically Important Banks (G-SIBs) were especially active, contributing to 106 deals and backing 14 of the 33 mega-rounds.
Regulatory efforts, such as the GENIUS Act and the EU's MiCA framework, are providing national guidance and more defined rules for stablecoins and blockchain services. As a result, banks are showing interest in firms that offer real-world blockchain applications, such as programmable payments, secure asset custody, and digital settlements.
The tokenization of real-world assets is expected to grow sharply, with estimates suggesting the market could reach $18 trillion by 2033. Monthly stablecoin volumes reached between $650 and $700 billion in Q1 2025, and several banks are now issuing their own stablecoins, aiming to deliver programmable money without exposing users to price volatility.
Ripple's survey found that 90% of finance leaders expect digital assets to reshape the industry within three years. Singapore, France, and the UK also remained active investors, collectively investing more than $100 billion in over 10,000 transactions during the same period.
In summary, global banks have increased their support for blockchain startups, making them the most active backers of early-stage ventures from 2020 to 2024. These deals mainly supported startups in trading infrastructure, custody, tokenization, and payments, with large-scale investments being a key part of the strategy. The focus on real-world applications and the growing interest in tokenization are indicative of a strategic push by major financial institutions towards real-world blockchain applications and digital asset infrastructure.
- As a strategic move, global banks have been investing heavily in cryptocurrency and blockchain technology, with a particular focus on early-stage ventures involving trading infrastructure, custody, tokenization, and payments.
- The focus on real-world applications is evident as banks are increasingly interested in firms offering programmable payments, secure asset custody, digital settlements, and even the tokenization of real-world assets.
- In the future, with the growing interest in tokenization, the market for tokenized real-world assets is expected to reach an staggering $18 trillion by 2033, while several banks are now issuing their own stablecoins to deliver programmable money without user exposure to price volatility.
