<div id="readability-page-1"><div><div>Citigroup, JPMorgan Chase, Goldman Sachs and Japan’s SBI Group have emerged as the most active players in traditional finance backing blockchain startups, according to a new report by Ripple in partnership with CB Insights and the UK Centre for Blockchain Technologies.Between 2020 and 2024, global banks participated in 345 investments in blockchain companies, most of them in early-stage funding rounds, per the report. Citigroup and Goldman Sachs led the pack with 18 deals each, while JP Morgan and Mitsubishi UFJ followed closely with 15 investments.Mega-rounds, deals worth $100 million or more, were a key focus. Banks contributed to 33 such rounds during the four-year window, pouring capital into firms focused on trading infrastructure, tokenization, custody, and payment solutions.Notable examples include CloudWalk in Brazil, which raised over $750 million across two rounds backed by Banco Itaú and others. Likewise, Solaris in Germany secured over $100 million from SBI Group and later became a majority acquisition target.G-SIBs back blockchain with 100+ dealsGlobal Systemically Important Banks (G-SIBs), a group of financial institutions with such significant economic weight that their failure could trigger global financial instability, accounted for 106 deals, including 14 mega-rounds valued at over $100 million each.<figure><div><img src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:76e69d5de094b-518c89e500ad7b880a079ecb8b8b7c92-resized.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="404" height="600" original-src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:76e69d5de094b-518c89e500ad7b880a079ecb8b8b7c92-resized.jpeg"/></div></figure>US and Japanese institutions led in deal volume, but Singapore, France, and the UK were also active. In total, over $100 billion was poured into blockchain startups between 2020 and 2024 across more than 10,000 deals globally.Ripple’s survey of over 1,800 global finance leaders also found that 90% believe blockchain and digital assets will have a “significant or massive” impact on the industry within three years.The momentum is also supported by regulatory developments, including the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, in the US and Markets in Crypto-Assets (MiCA) in the EU, both of which provide a clearer framework for digital asset operations.Banks back stablecoins, tokenization nextBacking the investment trend is soaring demand for real-world blockchain applications. According to a Citi report, stablecoin volumes hit $650–$700 billion per month in Q1 2025, and more banks are launching their own stablecoins to offer programmable money without exposure to volatility.Looking ahead, tokenization is expected to be a defining trend. Boston Consulting Group and Ripple estimate that tokenized real-world assets could exceed $18 trillion by 2033, with a compound annual growth rate of 53%.</div></div></div>

Citigroup, JPMorgan Chase, Goldman Sachs, and Japan’s SBI Group are leading traditional finance's investment in blockchain startups, with 345 investments from 2020 to 2024. Citigroup and Goldman Sachs each led with 18 deals, while JP Morgan followed with 15. Over $100 billion was invested globally in blockchain startups, with a focus on mega-rounds worth $100 million or more. A survey indicates 90% of finance leaders believe blockchain will significantly impact the industry. The trend is supported by regulatory developments and increasing demand for stablecoins and tokenization, projected to exceed $18 trillion by 2033.

Citigroup, JP Morgan, Goldman Sachs lead TradFi's blockchain charge: Ripple