Citigroup and Coinbase entered a partnership to integrate stablecoins into Citi’s international payments system for corporate clients.
According to Bloomberg, financial giant Citigroup and crypto exchange Coinbase Global will develop infrastructure enabling the bank’s institutional clients to exchange between fiat currencies and stablecoins.
Under the agreement, Citi and Coinbase aim to focus on transactions where Citi’s clients require streamlined mechanisms for crypto-to-fiat conversions, particularly for international transfers and settlements. The companies plan to create a solution that will provide access to on-ramp and off-ramp services, simplifying settlements using stablecoins for corporate treasury operations and cross-border payments.
Debopama Sen, Head of Payments at Citi, noted that large corporate treasuries are increasingly interested in “programmable” money, instant settlements, and built-in compliance features. She also emphasized that banks continue to prioritize strict regulatory frameworks and reserve transparency — particularly relevant for fiat- or government securities-backed stablecoins. Sen added that Citi’s broader digital strategy includes reserve management, custodial services, and deposit tokenization.
Details regarding the project’s launch timeline, geographical coverage, and expected transaction volume weren’t disclosed. However, Bloomberg reports that Citi clients will gain access to stablecoin settlement infrastructure in the near future.
Citi is actively integrating digital asset capabilities into its services. The financial institution was testing tokenization of private equity funds and private market assets. Citi also launched Citi Token Services, a private blockchain for institutional clients, back in 2023.
