Citi and Coinbase Bring Stablecoin Payments Inside Corporate Accounts

Citi and Coinbase have teamed up to bring stablecoin payments into corporate accounts. The partnership allows Citi's institutional clients to accept USDC (USD Coin) without directly holding or managing crypto assets.

Citi's Spring by Citi will handle the incoming stablecoins, which will be automatically converted into fiat currency for settlement. This means businesses can receive and settle USD Coin payments seamlessly within their existing corporate payment infrastructure.

The initial rollout is focused on the United States and targets multinational companies and institutional clients seeking cross-border settlement without adding crypto wallets or private-key management to their operations.