Citi and Coinbase Pioneer Stablecoin Payments for Traditional Banks
Citigroup Inc. and Coinbase Global Inc. have announced a partnership that allows Citi's institutional clients to accept stablecoin payments, marking a major milestone in the adoption of cryptocurrency by traditional banks.
The deal, which was reported on September 28, 2026, by Bloomberg, enables merchants to settle transactions in USD Coin (USDC) and other regulated stablecoins, reducing friction in cross-border commerce. With settlement times measured in minutes rather than days, this partnership normalizes the use of stablecoin settlement as a native treasury function.
This is not a peripheral crypto trial, but rather Citi's move to treat stablecoin settlement as a core banking service. By integrating Coinbase's digital asset infrastructure with Citi's global payment rails, merchants can now receive stablecoin payments without managing private keys or converting assets manually.