Citi and Coinbase Partner to Build Stablecoin Infrastructure for Businesses

stablecoin infrastructure — Citigroup and Coinbase have announced a partnership to build a new stablecoin payments infrastructure for their institutional and business clients.

The collaboration, announced Monday, aims to create a seamless bridge between fiat currency and stablecoins. The initiative has two main components. First, Coinbase will use Citi’s banking-as-a-service platform to offer its payments customers bank-account-like features, with Citi automatically converting incoming fiat to stablecoins. Second, Citi’s enterprise clients will be able to accept stablecoin payments at checkout via the bank’s Spring platform, with Coinbase converting the crypto to fiat for settlement.

“Our goal is to build the next generation of payments infrastructure — one that is seamless, interoperable, and operates across both traditional and digital payments instruments and networks,” said Debopama Sen, Head of Payments at Citi. A Coinbase executive stated the partnership provides a “fast, compliant bridge between fiat and stablecoins” at scale.

The move is part of a broader trend of major financial institutions leveraging blockchain technology. Citi recently announced plans to allow institutional clients to custody Bitcoin alongside traditional assets and is reportedly exploring a stablecoin product with other top global banks.