Citigroup is partnering with cryptocurrency exchange Coinbase to offer stablecoin payment options to its institutional clients. The service will let Citi’s large corporate customers accept payments in digital dollars through the bank’s merchant-processing services, using Coinbase’s blockchain technology and payment rails.
Coinbase will convert stablecoins into U.S. dollars, which will then settle through Citi’s global payment network. Merchants can receive funds in traditional currency without handling digital assets directly. The partnership aims to make cross-border transactions faster and cheaper for Citi’s clients by connecting traditional finance with digital currency infrastructure.