Citi and Coinbase Unveil Expanded 24/7 Fiat Access Partnership

Citi and Coinbase have partnered to expand 24/7 fiat access for over 150 million Coinbase users. This move lays the groundwork for stablecoin payments between bank accounts and crypto wallets.

The initial phase of this partnership will connect Citi clients to Coinbase's existing fiat on- and off-ramps, allowing users to transfer traditional currency into cryptocurrency or cash out around the clock.

The next phase will focus on integrating stablecoins. Citi and Coinbase are exploring a setup in which a client sends traditional money, with the recipient receiving stablecoins. However, operational details have not been provided by the companies.