Citi and Coinbase Deepen Partnership for Stablecoin Payments

Citi and Coinbase are expanding their collaboration to allow Citi's institutional clients to accept stablecoin payments, while Coinbase business users gain access to virtual accounts based on Citi's banking infrastructure. According to The Block, the service connects Coinbase Payments with Spring by Citi, Citi's payment acceptance platform. This integration means merchants can pay using stablecoins, which are automatically converted into fiat currency by Coinbase, while Citi settles the transaction as the bank of record.

Merchants don't need to hold or manage stablecoins directly, and this initiative was first launched in the United States. Coinbase states that the shared payment infrastructure can reach a market of over 150 million stablecoin holders worldwide. The collaboration continues the partnership between Citi and Coinbase announced in October 2025.

Head of Payments Citi Debopama Sen said: 'Our goal is to build the next generation of payments infrastructure that is seamless, interoperable, and operates on both traditional and digital payment instruments and networks.'

Head of Infrastructure Product Coinbase Alec Lovett added: 'Customers building on Coinbase have always needed a fast, compliant bridge between fiat and stablecoins, and Citi is providing that at scale.'