Citi and Coinbase Partner on Seamless Digital Payment Integration
Citi and Coinbase have expanded their collaboration to connect digital payments with traditional banking services for corporations and consumers. This partnership aims to simplify operational complexity and risk for businesses connecting traditional banking services with blockchain rails.
Coinbase has selected Citi's Virtual Account Wallet solution, part of Citi Services' Banking-as-a-Service (BaaS) capabilities, to power Coinbase Virtual Accounts. This provides bank-account-like functionality with automatic fiat-to-stablecoin conversion.
The collaboration introduces two core initiatives: Coinbase Virtual Accounts and Merchant Stablecoin Acceptance. With these solutions, businesses can now access new payment capabilities without building or managing separate infrastructure.