Citi and Coinbase Deepen Collaboration on Stablecoin Payments for Businesses

Citi and Coinbase have deepened their collaboration to expand digital asset payment capabilities for global clients. The partnership, which initially announced in October 2025, aims to facilitate stablecoin payments between businesses. Through Spring by Citi, institutional clients can now accept stablecoin payments from customers, with Coinbase's infrastructure handling the conversion.

When a customer pays in stablecoin, Coinbase converts the tokens into fiat currency, and Citi credits the merchant's account without them ever holding or managing the token directly.

Coinbase has also chosen Citi's Virtual Account Wallet to power its own Coinbase Virtual Accounts. This allows businesses to receive fiat deposits that are automatically converted into stablecoins.

The infrastructure is live, but adoption by clients remains to be seen in the coming months. The partnership represents a unique model, where a global bank like Citi acts as a bridge between the fiat and stablecoin worlds, enabling its business clients to operate with both without needing to become crypto operators themselves.