Citi and Coinbase Expand Stablecoin Payments for Corporate Clients

Citi and Coinbase are expanding their collaboration to allow large corporate clients to accept stablecoin payments without building their own crypto infrastructure.

The two companies have introduced two products: Coinbase Virtual Accounts using Citi Services' Virtual Account Wallet, which automatically converts incoming fiat into stablecoins; and merchant acceptance via Spring by Citi powered by Coinbase Payments.

Citi acts as the bank of record while Coinbase handles conversion and custody. This setup lets merchants reach more than 150 million stablecoin holders globally without directly managing digital assets.

The expansion marks a significant milestone in Citi's digital-assets strategy, which aims to connect traditional financial infrastructure with digital networks across cash management, securities, and collateral.