Citi has partnered with Coinbase to expand its digital-asset services. The bank will use Coinbase’s infrastructure to offer stablecoin payments to corporate clients.
Coinbase is the largest cryptocurrency exchange in the United States. It will provide the digital rails for these transactions.
The partnership allows Citi’s institutional customers to send and receive payments using stablecoins. Stablecoins are digital tokens pegged to traditional currencies like the U.S. dollar.
This move reflects growing interest among major banks in blockchain-based payment systems. Stablecoins can settle transactions faster and cheaper than traditional wire transfers.
Citi has been exploring digital assets for several years. The bank previously launched tokenized deposits and participated in blockchain pilot programs.
Coinbase has similarly deepened its ties with traditional finance. The exchange already provides custody and trading services to institutional investors.
The collaboration aims to bridge conventional banking and cryptocurrency markets. It gives Citi’s clients access to 24/7 payment capabilities without leaving their existing banking relationships.
