Citigroup and Coinbase Partner for Institutional Stablecoin Payments

Citigroup has partnered with Coinbase to enable its institutional clients to accept stablecoin payments without needing to set up their own crypto infrastructure.

The partnership allows Citigroup's large corporate clients to accept digital-dollar payments from customers, which are then automatically converted into fiat currency by the bank.

This move marks one of the clearest signs yet that a major Wall Street bank is willing to plug crypto rails directly into its core payment infrastructure.

Citibank acts as the custodian bank, completing fund settlement after converting incoming stablecoins into fiat currency.