TLDR
- Citi and Coinbase announced a partnership to improve digital asset payment capabilities for Citi’s institutional clients
- The initial phase focuses on accelerating fiat pay-ins and payouts while improving the connection between traditional finance and crypto platforms
- Future plans include exploring stablecoin payout methods for institutional clients, with updates expected in coming months
- Citi operates more than 300 payment clearing networks across 94 markets globally
- Coinbase CEO Brian Armstrong stated that crypto and stablecoins will update the global financial system
Citi and Coinbase announced a partnership on Monday to develop digital asset payment options for the bank’s institutional clients. The collaboration aims to improve how traditional finance connects with cryptocurrency platforms.
The initial phase of the partnership will focus on speeding up fiat currency pay-ins and payouts. The companies also plan to improve orchestration between traditional banking systems and crypto on-ramps and off-ramps.
Debopama Sen, the head of payments and services at Citi, said the financial landscape is changing rapidly. The bank views the Coinbase partnership as an extension of its network of networks approach.
Citi operates more than 300 payment clearing networks across 94 markets worldwide. The bank wants to support clients in making cross-border payments more seamlessly.
Brian Armstrong, Coinbase’s CEO, commented on the partnership through social media. He said crypto and stablecoins are tools that will update the global financial system.
Expanding Digital Payment Options
The partnership will explore various digital payment initiatives. One key area of focus is fiat to onchain stablecoin payout methods.
Brian Foster, Coinbase’s global head of crypto as a service, called Citi an ideal partner. He cited the bank’s global network and payments expertise.
Foster said combining Citi’s reach with Coinbase’s digital asset leadership will create solutions that simplify access. The goal is to expand digital asset payment capabilities for institutional users.
Coinbase has been adding new revenue streams beyond its core trading platform. The company recently launched services including prediction markets similar to Polymarket.
Stablecoin Integration Plans
The companies plan to share updates about stablecoin payout exploration in the coming months. The partnership starts with digital asset payment options for Citi’s institutional client base.
Traditional financial firms are increasingly moving into digital assets. This shift creates both opportunities and competition for crypto-native platforms like Coinbase.
Sen emphasized that the partnership supports Citi’s mission to help clients make payments without border limitations. The bank sees digital assets as part of its broader payment network strategy.
The collaboration represents a step toward mainstream adoption of cryptocurrency payment rails. Both companies are positioning themselves at the intersection of traditional and digital finance.
Updates on stablecoin payout methods will be announced in the coming months.
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