Citi and Coinbase Expand Digital Asset Infrastructure Collaboration

Citi and Coinbase have expanded their collaboration on digital asset infrastructure. The partnership allows clients to connect traditional banking services with blockchain rails without requiring separate systems. Specifically, Coinbase uses Citi Services’ Virtual Account Wallet (Banking-as-a-Service) to power its Virtual Accounts, enabling institutional clients to accept stablecoin payments via Spring by Citi. These payments are automatically converted to fiat and settled by Citi as the bank of record.

The expansion addresses the operational complexity and risk that corporate and financial clients face when integrating traditional banking with new blockchain infrastructure. This collaboration allows clients to access new payment capabilities while maintaining a connection to established financial services.