Timeline
- 7.5
Coinbase powers Citi’s new stablecoin rails, and corporate banking faces a major shift
Coinbase said on Sept. 28 that Citi institutional clients can accept stablecoin payments through Spring by Citi, Citi's merchant platform, using Coinbase's payments infrastructure. Coinbase also said its Virtual Accounts can automatically convert incoming fiat into stablecoins, with Citi's Virtual Account Wallet providing the underlying banking infrastructure. A major global bank enabling institutional clients to receive stablecoin payments, with the exchange handling the crypto leg behind the scenes, extends stablecoin acceptance into regulated banking rails. The two named services give the companies' earlier digital asset payments partnership defined, customer-facing uses. Coinbase describes the capability as available now, but neither company disclosed customers, transaction volumes, pricing, eligible currencies or supported stablecoins, so the practical scale remains unverified. The two paths serve different customers — Citi institutional payment clients on one side, Coinbase Virtual Account customers on the other — and the announcement does not establish that a single customer can use both.
- 7.5
Citi and Coinbase Expand 24/7 Fiat Access for 150M-Plus Users
Citi and Coinbase are expanding their partnership to give businesses infrastructure that connects traditional fiat payments with stablecoins, extending round-the-clock fiat access to a combined user base of more than 150 million. Reports describe the corporate stablecoin payments effort as a planned collaboration. Broadening bank-to-exchange payment rails gives users round-the-clock on-ramp and off-ramp access, linking regulated banking settlement directly to crypto trading venues. Reports characterize the initiative as a planned corporate stablecoin payments collaboration, framed around a combined user base of more than 150 million.