Citi and Coinbase Team Up for Stablecoin Payments

Citi and Coinbase have teamed up to allow merchants using Spring by Citi to accept stablecoin payments at checkout. This integration, announced on September 28, 2026, will enable merchants to receive stablecoins from customers, which will then be automatically converted into fiat currency.

Citi's virtual account wallet framework will be used in this partnership, and the bank of record will settle transactions. As a result, merchants won't need to manage or hold cryptocurrency, making it easier for them to accept payments.

This move is significant as stablecoins have gained popularity due to new US rules, backed by President Donald Trump, which aim to facilitate faster, around-the-clock payments. The partnership between Citi and Coinbase also highlights the growing trend of banks and fintechs leaning towards digital assets for payment purposes.