Citigroup and Coinbase partner on stablecoin payments
6.6 Stablecoins Citigroup and Coinbase partner to offer stablecoin payment solutions, enabling seamless fiat-to-crypto conversions and streamlining cross-border payments for institutional clients.
Citigroup and Coinbase have formed a partnership to deliver stablecoin payment solutions for institutional clients. This collaboration connects Citi’s global payments network—spanning 94 markets and over 300 clearing systems—with Coinbase’s advanced digital asset infrastructure. The initiative will enable seamless conversions between traditional currencies and digital assets, focusing on fiat pay-ins and pay-outs, on- and off-ramps, and payments orchestration. Institutional clients can accept stablecoin payments without building their own crypto infrastructure, as Citigroup will handle automatic conversion to fiat and provide merchant acquiring services. Coinbase will supply the payment channel and blockchain technology, ensuring 24/7 operations. This partnership is expected to accelerate the adoption of stablecoin and blockchain-based payment solutions among institutional investors, enhancing efficiency in cross-border and treasury payments. The move highlights the growing trend of traditional financial institutions embracing digital asset solutions to improve payment capabilities.
