- Citi clients can accept stablecoins through Spring by Citi without managing digital assets.
- Coinbase converts stablecoin payments into fiat before Citi settles proceeds for merchants.
- Coinbase Virtual Accounts use Citi banking rails to connect fiat and stablecoin payments.
Citi and Coinbase are expanding their partnership to help corporate clients accept stablecoin payments while maintaining traditional fiat settlement through regulated banking infrastructure.
The arrangement allows Coinbase to handle stablecoin transactions and automatic fiat conversion, while Citi provides settlement services and account infrastructure for businesses.
Citi Adds Stablecoin Payments for Corporate Clients
Citigroup is partnering with Coinbase to let institutional clients accept stablecoin payments through Spring by Citi. The partnership connects blockchain payment rails with Citi’s traditional banking infrastructure.
Under the arrangement, Coinbase will provide the blockchain infrastructure supporting stablecoin payments at checkout. The system will automatically convert received stablecoins into fiat, while Citi will settle the proceeds as the bank of record.
The structure allows merchants to accept digital-asset payments without directly holding or managing stablecoins. As a result, businesses can maintain familiar fiat settlement processes while customers gain another payment option.
The service will initially launch in the United States, with additional capabilities expected during the coming months.
The development also expands Coinbase’s existing payments infrastructure, which supports stablecoin acceptance across multiple networks and business applications. Coinbase says its payments platform reaches a global base of more than 150 million stablecoin users.
Citi, meanwhile, brings its established banking infrastructure and payment capabilities to the arrangement. The bank operates across more than 180 countries and jurisdictions, according to the companies’ announcement.
We’re bringing stablecoins into the banking system with @Citi.
That means instant stablecoin acceptance for institutions – all on bank-grade, regulated infrastructure.
The next step for stablecoins becoming everyday money. pic.twitter.com/9ftQ50yl5y
— Coinbase 🛡️ (@coinbase) September 28, 2026
Coinbase Virtual Accounts Connect Fiat and Stablecoins
The partnership also introduces another connection between Citi’s banking systems and Coinbase’s digital-asset infrastructure.
Coinbase selected Citi’s Virtual Account Wallet to power Coinbase Virtual Accounts. The service gives business customers account-like functionality for receiving, holding and sending funds.
Incoming fiat can automatically convert into stablecoins through Coinbase’s infrastructure. This removes the need for businesses to maintain separate banking and digital-asset systems for those transactions.
The companies are therefore addressing both sides of corporate stablecoin activity. Citi’s institutional clients can accept stablecoins and receive fiat settlement, while Coinbase customers can move incoming fiat into stablecoins.
Alec Lovett, Coinbase’s Head of Infrastructure Product, said the collaboration provides businesses with regulated banking infrastructure alongside stablecoin functionality.
Citi’s Head of Payments, Debopama Sen, said the bank aims to support payment infrastructure across traditional and digital networks.
The collaboration comes as financial institutions expand their involvement in stablecoin payments. Coinbase recently announced separate partnerships involving community banks and credit unions, indicating broader efforts to connect stablecoins with existing banking systems.
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