Citi, Coinbase Collaborate on Stablecoin Infrastructure

Citi and Coinbase are joining forces to develop stablecoin infrastructure for businesses. The partnership will enable Citi's clients to easily move between traditional money and stablecoins, eliminating the need for separate banking and crypto systems.

The announcement comes as banks worldwide explore ways to integrate blockchain technology into their operations. Last month, Citi announced plans to allow institutional investors to custody both traditional assets and Bitcoin within a single framework by this year.

Citi's Head of Payments, Debopama Sen, stated that the company is focused on delivering solutions for its clients in an increasingly fast-paced global economy.