Citigroup, JPMorgan & Goldman Lead TradFi’s $100B Blockchain Charge — 345 Deals Since 2020
According to a new report from Ripple, CB Insights, and the UK Centre for Blockchain Technologies, **global traditional financial institutions** made a total of **345 strategic investments** into blockchain and crypto startups between 2020 and 2024—deploying over **$100 billion** into the ecosystem.
Leading the charge were Citigroup and Goldman Sachs, each closing 18 deals, followed by JPMorgan Chase and Mitsubishi UFJ at 15 each. Global Systemically Important Banks (G‑SIBs) collectively participated in **106 deals**, including **14 major “mega-rounds”** valued at $100 million or more. Key sectors targeted include trading infrastructure, tokenization platforms, crypto custody solutions, and cross-border payment rails.
Notable company investments include CloudWalk in Brazil ($750M+) and Germany's Solaris (backed by SBI Group), which later became a target for acquisition. Importantly, Ripple’s survey of more than 1,800 finance executives reveals that **90% believe blockchain and digital assets will have a “significant” or “massive” impact on finance within three years**.
Also driving this trend is the increasing interest in stablecoins and tokenization—Citi reported stablecoin volumes exceeding **$650–700 billion per month** in early 2025. With regulatory clarity from the **GENIUS Act** in the U.S. and **MiCA** in the EU, traditional finance institutions are increasingly treating blockchain not as a threat, but a core part of digital transformation.
