Citi and Coinbase Launch Partnership to Streamline Institutional Digital Asset Payments

New York – Citi and Coinbase have officially announced a strategic collaboration aimed at developing advanced digital asset payment capabilities for institutional clients. The partnership seeks to bridge traditional finance with the burgeoning digital asset ecosystem, offering smoother and more accessible payment solutions.

The initial phase of this collaboration will concentrate on streamlining fiat pay-ins and pay-outs, supporting Coinbase's on-ramps and off-ramps which facilitate the conversion between traditional currency and digital assets. This includes enhancing payments orchestration for Citi's institutional clientele.

Debopama Sen, Head of Payments, Services at Citi, emphasized the significance of the alliance, stating, "The financial landscape is changing fast, and we’re thrilled to join Coinbase to explore new and innovative payment options for our global clients." She added that the partnership is a natural extension of Citi’s "network of networks" approach, leveraging its extensive clearing networks across 94 markets.

Brian Foster, Global Head – Crypto as a Service at Coinbase, highlighted the mutual benefits, noting, "By combining their reach with Coinbase’s leadership in digital assets, we’re creating solutions that can simplify and expand access to digital asset payments." He affirmed that this collaboration reflects Coinbase's commitment to building essential infrastructure for the next generation of financial services.

Future initiatives are expected to include the exploration of alternative fiat to on-chain stablecoin payout methods, aiming to provide 24/7 access for Citi's clients. This move aligns with Citi’s broader strategy in digital assets, which includes plans to launch crypto custody services in 2026.