Citi and Coinbase Expand Stablecoin Payments for Institutional Clients

Citi and Coinbase are expanding their partnership to allow institutional clients to accept stablecoin payments.

This marks another step toward connecting cryptocurrency payment infrastructure with traditional banking services.

The arrangement will allow Citi's merchant processing clients to accept stablecoin payments from customers, which Coinbase will convert into traditional currency.

Citi will handle the settlement process as the banking partner, while Coinbase provides the blockchain-based payment infrastructure.