Coinbase, Citi Unveil Integrated Fiat-Stablecoin Payment Infrastructure

Coinbase is expanding its collaboration with Citi to provide businesses with integrated fiat and stablecoin payment infrastructure.

The partnership will use Citi's Virtual Account Wallet to power Coinbase Virtual Accounts, giving customers bank-account-like functionality for accepting, holding, and sending funds.

Incoming fiat can automatically be converted into stablecoins, allowing businesses to move between traditional money and digital assets without establishing separate banking and conversion systems.