Coinbase · Wall Street · Bitcoin · Decrypt
Both features launch first in the U.S., with more capabilities planned in the coming months, the companies said
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"Citi is exactly the kind of regulated banking partner the digital asset economy needs to move from experimentation to everyday commerce," said Brett Tejpaul, head of Coinbase Institutional.
Key facts
- In August, it launched tokenized stocks on Base, its Ethereum layer-2 network, for non-U.S. users
- Going the other direction, Coinbase tapped Citi's Virtual Account Wallet, part of the bank's banking-as-a-service business, to power Coinbase Virtual Accounts
- Coinbase said Monday it has deepened its previously announced deal with the Wall Street bank on two fronts
- Citi is exactly the kind of regulated banking partner the digital asset economy needs to move from experimentation to everyday commerce," said Brett Tejpaul, head of Coinbase Institutional
Summary
Citi's institutional clients can now accept stablecoin payments through Spring by Citi, with Coinbase converting the tokens to fiat and Citi settling the funds. Coinbase is using Citi's Virtual Account Wallet to power Coinbase Virtual Accounts, which automatically convert incoming fiat into stablecoins. Both features launch first in the U.S. The deal builds on a partnership the firms announced in October 2025. Big businesses banking with Citi can now let customers pay in stablecoins without ever holding the tokens themselves. Coinbase said Monday it has deepened its previously announced deal with the Wall Street bank on two fronts.