Coinbase, Citi Launch Fiat-Stablecoin Payment Infrastructure for Businesses

Coinbase and Citi have expanded their collaboration to bring fiat and stablecoin payment capabilities to businesses, combining Coinbase's digital-asset payments infrastructure with Citi's regulated banking rails.

The new partnership allows business owners to use Citi-powered virtual accounts that automatically convert incoming fiat into stablecoins, earning a 3.75% annual yield on USDC balances.

Citi merchants can also accept stablecoin payments through Coinbase infrastructure and receive fiat settlement, eliminating the need for their own stablecoin custody.