El Salvador Picks Stablecoin USDC Over Tether's Rival
Coinbase and Citi have expanded their partnership to provide institutional clients with bank-account-like fiat and stablecoin payment capabilities.
The new 'Coinbase Virtual Accounts, powered by Citi' plan will offer customers fast and compliant transactions between fiat and stablecoins. This deal allows clients of Spring by Citi to accept stablecoin payments at checkout without directly holding or managing stablecoins.
El Salvador has launched a $2 remittance service using stablecoin settlement on Base, where USDC dominates. The Sivar portal will verify users using official identity cards and allow them to transfer money for a flat fee of $2, regardless of the amount. Financial transactions will settle in a stablecoin on Base.
Verona has launched verUSD, a dollar-backed stablecoin designed specifically for payments involving AI agents. Morgan Stanley is testing stablecoins, tokenization, CBDCs, and DeFi in its Digital Asset Lab.