Citi and Coinbase partner to explore stablecoin payment services for clients

According to Bloomberg, international financial services giant Citigroup and leading cryptocurrency exchange Coinbase Global have officially entered into a strategic partnership.

The two parties will work together to expand digital asset payment services and provide more efficient and secure digital financial solutions for Citi's corporate clients.

This partnership signals that, amid years of regulatory warnings about the risks of digital assets, traditional Wall Street institutions are actively adjusting their strategies and exploring the innovative opportunities presented by blockchain technology.

According to the partnership plan, the two parties will initially focus on optimizing the funds conversion process for Citi's institutional clients. Specifically, this will cover two core scenarios: simplifying the process for clients to convert cryptocurrencies into fiat currency; and enabling the reverse process—facilitating the convenient purchase of cryptocurrencies with fiat currency.

Furthermore, the collaboration will extend to cross-border payments, exploring feasible ways to leverage blockchain technology to improve the efficiency of international funds flows and further promote the compliant use of digital assets in institutional businesses.

This development not only reflects the growing acceptance of digital assets in the traditional financial sector but also signals the deepening of collaboration between financial institutions and crypto technology platforms, offering new possibilities for the future digital upgrade of financial infrastructure.