Citi Teams Up with Coinbase for Institutional Stablecoin Payments

Citi has partnered with Coinbase to enable stablecoin payments for its institutional clients. This move will allow Citi's clients to convert fiat currency into crypto or stablecoins, make payments onchain, and then convert assets back into fiat when needed.

The partnership brings together Citi's established payments infrastructure with Coinbase's cryptocurrency platform. Citi operates a payments network spanning 94 markets and more than 300 clearing systems, while Coinbase has $246 billion in assets on its platform.

Citi estimates that stablecoin issuance could reach $1.9 trillion by 2030 under its base-case scenario. This projection represents the bank's own outlook for the potential scale of stablecoins by the end of the decade.