Citi and Coinbase Join Forces to Boost Digital Asset Payment Capabilities for Global Clients
- Citi and Coinbase are collaborating to develop digital asset payment capabilities for institutional clients
- The collaboration will first focus on streamlining fiat pay-ins/pay-outs and payments orchestration, enhancing the bridge between traditional and digital finance for Coinbase's on/off ramps
- Specific initiatives will be shared in the coming months, as Citi and Coinbase explore options to simplify and expand access to digital asset payments for Citi's clients
Today, Citi and Coinbase announced their intention to collaborate on digital asset payment capabilities for Citi's institutional clients and explore additional global clients in the future, further solidifying both companies' market leadership in payment solutions. The initial phase of their collaboration focuses on fiat pay-ins/pay-outs, supporting Coinbase's on/off-ramps1—the bridge between traditional fiat and digital asset ecosystems—along with payments orchestration. Additional details on specific initiatives, including the exploration of creating alternative fiat to onchain stablecoin payout methods, will be shared in the coming months.2 This collaboration aims to make these transitions smoother and accessible 24/7 for Citi's clients.
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"The financial landscape is changing fast, and we're thrilled to join Coinbase to explore new and innovative payment options for our global clients," said Debopama Sen, Head of Payments, Services at Citi. "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."
"Citi's global network and expertise in payments make them an ideal partner as we work to advance digital asset capabilities," said Brian Foster, Global Head – Crypto as a Service at Coinbase. "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."
The collaboration with Coinbase builds on Citi's approach to creating payment solutions for its clients in an evolving 24/7 digital money landscape, including Citi® Token Services and 24/7 USD Clearing, which offer real-time, always-on services for its institutional clients. Citi has a presence in the top 50 eCommerce markets, with diverse payment solutions to meet clients' needs. Citi banks 90% of the top eCommerce companies and 15 of the world's 20 largest FinTechs.
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi
About Coinbase
Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ:COIN) is on a mission to increase economic freedom for more than 1 billion people. We're updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.
Additional information may be found at: www.coinbase.com | X: @coinbase | LinkedIn: https://www.linkedin.com/company/coinbase | YouTube: https://www.youtube.com/coinbase
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1 On-ramps facilitate the conversion of traditional currency into digital assets, much like depositing cash into a digital wallet. Conversely, off-ramps enable the conversion of digital assets back into traditional currency, integrating them into the everyday financial system.
2 This collaboration, subject to further exploration and appropriate regulatory considerations, seeks to bridge traditional finance (TradFi) with the rapidly evolving decentralized finance (DeFi) ecosystem, leveraging Citi's global network and industry-leading 24/7, cross-border payment solutions, with Coinbase's leadership in digital asset technology.
View source version on businesswire.com: https://www.businesswire.com/news/home/20251027106631/en/
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