Global Banks Lead Blockchain Investment Surge with 345 Deals Since 2020

Major financial institutions, including Citigroup, Goldman Sachs, JPMorgan, and SBI Group, have led the charge in funding blockchain startups with 345 deals totaling over $100M between 2020-2024. The banks have focused on trading infrastructure, custody, tokenization, and payments. Stablecoin volumes have risen to $650-$700B monthly in Q1 2025, and the tokenization market could grow to $18 trillion by 2033.

Title: Traditional Finance Institutions Lead the Way in Blockchain Investments

Major financial institutions, including Citigroup, Goldman Sachs, JPMorgan, and SBI Group, have emerged as the leading investors in blockchain technology, according to a new report by Ripple in partnership with CB Insights and the UK Centre for Blockchain Technologies. Between 2020 and 2024, these institutions collectively participated in 345 blockchain investments, with a total deal value exceeding $100 million [1].

Key Findings

The report highlights that global banks, particularly those classified as Global Systemically Important Banks (G-SIBs), have been at the forefront of this trend. Citigroup and Goldman Sachs led the pack with 18 investment deals each, followed closely by JPMorgan Chase and Japan’s Mitsubishi UFJ Financial Group with 15 deals each [1]. These investments were predominantly early-stage funding rounds, indicating a strategic focus on supporting emerging firms aligned with long-term digital strategies.

Investment Focus Areas

The most commonly funded use cases included institutional trading, tokenization infrastructure, cross-border payments, and digital asset custody. For instance, JPMorgan Chase has been proactive in piloting its own blockchain-based networks, such as the Kinexys platform, and conducting public blockchain transactions using tokenized U.S. Treasuries [1]. Similarly, Goldman Sachs and Citigroup have formed multiple blockchain partnerships to explore tokenized assets and enhance capital market infrastructure [1].

Notable Investments

Notable blockchain platforms have attracted significant backing from major banks. Partior, a real-time cross-border payment system, raised $111 million in a Series B round in 2024, with JPMorgan and Standard Chartered as key investors. Another example is HQLAx, a Luxembourg-based blockchain securities finance solution, which secured investments from five G-SIBs, including Goldman Sachs, JPMorgan, and Citigroup [1].

Regulatory Landscape

The report also points to the increasing regulatory clarity in major markets such as the United States, the European Union, the UAE, and Singapore, which has contributed to the resurgence of blockchain investments. The Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in the US and the Markets in Crypto-Assets (MiCA) regulation in the EU provide a clearer framework for digital asset operations [1].

Future Trends

Looking ahead, stablecoins are expected to continue their growth trajectory. According to a Citi report, stablecoin volumes hit $650-$700 billion per month in Q1 2025. Additionally, tokenization is expected to be a defining trend, with estimates suggesting that tokenized real-world assets could exceed $18 trillion by 2033 [1].

Conclusion

The report concludes that banks are now poised to scale blockchain solutions beyond pilot projects, signaling a maturing approach to digital assets in traditional finance. Even as Tier-1 institutions lead the charge, smaller regional banks are beginning to enter the space, often through fintech collaborations and utility platforms.

References

[1] Citigroup, JPMorgan Chase, and Goldman Sachs led blockchain investments among global banks (https://coinmarketcap.com/community/articles/688fe408b3afd664ab382f82/)