Citi and Coinbase Build Institutional Stablecoin Infrastructure
Citigroup and Coinbase are working together to develop digital-asset payment capabilities for institutional clients, with stablecoins forming an important part of the planned infrastructure.
The collaboration was announced on October 27, 2025, with an initial focus on fiat pay-ins, pay-outs and payment orchestration. Citi — Citi and Coinbase Partnership Announcement Citi said the goal was to strengthen the connection between traditional financial systems and digital assets, while Coinbase described the relationship as a way to make digital-asset payments easier for institutions operating at scale.
The partnership has continued to feature in Citi’s digital-assets strategy in 2026. The bank has described its work with Coinbase as part of efforts to improve the connection between traditional finance and digital assets through on- and off-ramps for major stablecoin providers.
Stablecoins Are Part of the Payment Strategy
The original agreement does not describe Citi launching a standalone stablecoin with Coinbase. Instead, the companies are exploring payment solutions that can help institutions move between fiat currencies and digital assets.
The initial phase focuses on fiat pay-ins, fiat pay-outs and payment orchestration. The companies also said they were exploring alternative fiat-to-onchain stablecoin payout methods, subject to further development and regulatory considerations. Citi — Official Partnership Details
Coinbase said the collaboration would cover on-ramps and off-ramps, as well as stablecoin payment solutions and related infrastructure. Coinbase — Citi Partnership and Future of Payments In practical terms, the infrastructure is intended to help institutions interact with digital assets without having to build every payment connection themselves.
Citi Brings a Global Payments Network
A major component of the relationship is Citi’s existing international payments infrastructure.
When the partnership was announced, Citi said its network covered more than 300 payment clearing networks across 94 markets. The bank positioned the Coinbase relationship as part of its broader “network of networks” approach to global payments.
Citi has also continued expanding its blockchain-based payment infrastructure. Its Citi Token Services platform provides blockchain-based payment and liquidity capabilities for institutional customers, while its 24/7 USD Clearing system is designed to support payment activity outside traditional banking hours.
In July 2026, Citi said Siam Commercial Bank became the first financial-institution client to go live with the combined Citi Token Services and 24/7 USD Clearing solution.
Coinbase Supplies Digital-Asset Infrastructure
Coinbase provides the digital-asset side of the relationship, including infrastructure for institutions interacting with crypto networks and stablecoins.
Its institutional offering includes services built around USDC, the dollar-denominated stablecoin issued by Circle. Coinbase describes USDC as an important part of the digital-asset infrastructure available to institutional customers. Coinbase Institutional — USDC
The Citi relationship is broader than supporting a single stablecoin. Citi said the collaboration is intended to improve on- and off-ramps for major stablecoin providers, giving institutional customers greater flexibility as stablecoin-based payments develop.
For institutions, this creates a potential bridge between conventional banking infrastructure and blockchain-based payment networks.
Citi Expands Its Digital-Asset Strategy
The Coinbase relationship is one part of Citi’s broader investment in blockchain and digital-asset infrastructure.
In September 2026, Citi said its Services business had processed live transactions on Swift’s blockchain-based ledger as part of work focused on always-on, cross-currency and interoperable payments. The bank said the initiative builds on products including Citi Token Services, 24/7 USD Clearing and Citi Custody+.
Citi has also been developing tokenized-deposit infrastructure for institutional payments. Its work with Siam Commercial Bank demonstrates how tokenized deposits and round-the-clock clearing can be combined to support cross-border payment flows.
These projects indicate that Citi’s digital-asset strategy extends beyond cryptocurrency trading. The bank is developing infrastructure around payments, settlement, liquidity management and custody.
Why Institutional Stablecoin Payments Matter
Stablecoins can move value across blockchain networks without relying entirely on the operating hours of traditional banking systems. For institutions working across multiple countries and time zones, this can be relevant to treasury operations, settlement and cross-border payments.
The potential use cases also go beyond simply transferring stablecoins between wallets. Citi and Coinbase are focused on connecting fiat currencies, stablecoins and established payment networks, with the aim of making these systems work together more efficiently.
Citi has described interoperability between fiat and digital assets as an important requirement for institutional adoption. The bank’s 2026 investor materials outline its efforts to give customers flexibility between traditional money, tokens and stablecoins while reducing infrastructure complexity.
Partnership Remains Focused on Developing Payment Infrastructure
Although Citi and Coinbase have established their collaboration, the original announcement did not represent the launch of a fully operational global stablecoin payment network.
Citi said in October 2025 that additional initiatives would be developed as the companies explored ways to expand digital-asset payment access. The bank also noted that stablecoin-related initiatives would remain subject to appropriate regulatory considerations. Citi — Official Citi-Coinbase Announcement
The distinction matters because the partnership provides a framework for developing institutional payment capabilities, while the exact products and use cases continue to evolve.
For the financial industry, the relationship highlights the growing effort to connect established banking networks with blockchain-based payment infrastructure. Citi’s work on tokenized deposits and 24/7 clearing, combined with Coinbase’s institutional digital-asset infrastructure, places stablecoins within a broader shift toward digital and potentially always-on payment systems.
