Citi And Coinbase Bring Stablecoin Payments Into Corporate Banking
Citi and Coinbase expanded their partnership to connect corporate banking and stablecoin payments in both directions. Citi’s institutional clients will be able to accept stablecoin payments through Citi merchant services, while Coinbase provides blockchain settlement and converts the digital asset into traditional currency before Citi settles as the bank of record. This lets merchants receive stablecoin payments without holding crypto, managing wallets, or carrying tokens on their balance sheets. On the other side, Coinbase will use Citi’s Virtual Account Wallet infrastructure to power Coinbase Virtual Accounts, giving businesses bank-like account functionality and automated fiat-to-stablecoin conversion where needed. The model keeps banks involved while adding blockchain rails, making stablecoins another payment option inside existing corporate payment systems rather than a replacement for them.
