Citi Teams Up With Coinbase to Accept Stablecoin Payments

Citi, one of the world's largest banking operations, is teaming up with Coinbase to let corporate clients accept stablecoin payments without having to handle them themselves. The partnership builds on a previous deal announced in October 2025.

According to a report from the Wall Street Journal, Coinbase will provide the public blockchain infrastructure, while Citi handles merchant acquisition, conventional currency conversion, and bank settlement. This means that corporate customers can accept stablecoin payments without having to manage their own crypto wallets, as incoming tokens convert automatically into fiat currency.

The arrangement also works in reverse: Coinbase Payments customers can access bank-style account services to receive, hold, and distribute funds, with the option to convert cash into stablecoins held at Coinbase. Citi's Token Services platform has been operational since 2024 and handles roughly $1 billion daily, compared to approximately $6 trillion moving through Citi's broader payments business.