Citi and Coinbase have announced a strategic collaboration to develop digital asset payment capabilities for Citi’s institutional clients, marking a significant step toward integrating traditional banking infrastructure with digital finance. The partnership aims to streamline fiat pay-ins, pay-outs, and payments orchestration, enhancing Coinbase’s on- and off-ramps that connect fiat currencies to the digital asset ecosystem.
The initiative reflects the growing demand among global financial institutions for frictionless access to digital assets and 24/7 payment functionality. The first phase of the partnership will focus on simplifying the process of moving between fiat and crypto systems. Future phases may explore additional innovations such as fiat-to-stablecoin payout methods.
Citi’s extensive payments infrastructure, spanning more than 300 clearing networks across 94 global markets, positions the bank as an ideal partner for Coinbase as it expands access to digital asset payment systems. This collaboration underscores both firms’ commitment to developing interoperable financial solutions that bridge traditional and blockchain-based systems, enabling clients to achieve greater flexibility and speed in global transactions.
Citi’s broader digital payments strategy already includes Citi Token Services and 24/7 USD Clearing, which provide real-time settlement capabilities for institutional clients. With a presence in the top 50 eCommerce markets and relationships with 90% of the top global eCommerce firms and 15 of the world’s 20 largest fintechs, Citi continues to extend its leadership in next-generation payments infrastructure.
Coinbase, meanwhile, brings to the partnership its deep expertise in secure crypto infrastructure and compliance, along with its growing suite of institutional-grade crypto and stablecoin services. Together, the two companies intend to develop new tools and standards for safely and efficiently integrating digital assets into global payments.
KEY QUOTES:
“The financial landscape is changing fast, and we’re thrilled to join Coinbase to explore new and innovative payment options for our global clients. With more than 300 payment clearing networks across 94 markets globally, we see collaborating with Coinbase as a natural extension of our ‘network of networks’ approach, further supporting our clients to make payments as if there were no borders.”
Debopama Sen, Head of Payments, Services, Citi
“Citi’s global network and expertise in payments make them an ideal partner as we work to advance digital asset capabilities. By combining their reach with Coinbase’s leadership in digital assets, we’re creating solutions that can simplify and expand access to digital asset payments. This collaboration reflects our commitment to building the infrastructure needed for the next generation of financial services.”
Brian Foster, Global Head – Crypto as a Service, Coinbase
