Citi eyes stablecoin payments through new partnership with Coinbase
Citi partners with Coinbase to pilot stablecoin payments as the bank forecasts a $4 trillion market by 2030, signaling Wall Street’s growing crypto embrace.
Citigroup could become one of Wall Street’s first major banks to offer stablecoin payment services, marking a potential milestone in the broader adoption of tokenized dollars following the passage of the GENIUS Act earlier this year.
According to Bloomberg, Citi has partnered with crypto exchange Coinbase to expand its digital asset capabilities, initially focusing on making it easier for clients to move funds between fiat and crypto.
Debopama Sen, Citi’s head of payments, said the bank’s clients are increasingly seeking programmability, conditional payments and greater speed and efficiency, alongside round-the-cock payment access.