Citi has integrated Coinbase payment infrastructure into its merchant platform, Spring by Citi. This allows institutional clients to accept stablecoin payments at checkout. Coinbase handles the conversion of tokens into fiat currency, while Citi manages the final settlement as the bank of record.
Additionally, Coinbase is utilizing the Citi Virtual Account Wallet to support its own virtual accounts. These accounts enable businesses to send, hold, and receive funds, with incoming fiat currency automatically converted into stablecoins. Both services are currently available in the United States.
This partnership expands on a collaboration initiated in October. Citi previously announced plans to incorporate Bitcoin custody into its Custody+ suite in August. Meanwhile, Coinbase continues to diversify its services, recently launching fixed-rate USDC loans and tokenized stocks on its Base network.
Coinbase estimates the potential user base for these integrated services at over 150 million stablecoin holders globally. Both companies intend to introduce further capabilities in the coming months as they transition digital asset services into mainstream commercial use.
