Citi and Coinbase Join Forces on Traditional Banking and Digital Assets

Citi and Coinbase have partnered to deliver traditional banking alongside digital assets.

The cryptocurrency company, Coinbase, has selected Citi's Virtual Account Wallet to power its Virtual Accounts.

This service allows customers to accept, hold, and pay funds, as well as convert fiat into stablecoins.

Citi will also allow institutional merchants to accept stablecoins at checkout using its Spring by Citi payment platform, powered by Coinbase Payments.

Shahmir Khaliq, head of services at Citi, said that this partnership is a 'pivotal step' in their ongoing Services strategy to provide optionality for clients.