Wall Street Bank Citi (C), partners with Coinbase (COIN) to expand digital asset payments
Wall Street giants Citi (C) and Coinbase (COIN) are teaming up to build digital asset payment services for institutional bank clients, aiming to bridge traditional and crypto finance, the companies said in a Press Release monday
The initial phase will focus on streaming fiat pay-ins and pay-outs, supporting Coinbase’s On/Off-Ramp, and improving payment orchestration.
Future initiatives may include exploring alternative fiat-to-stablecoin payment methods and expanding 24/7 access for Citi clients.
Debopama Sen, Citi’s head of payments and services, said the partnership is aligned with Citi’s “Network of Networks” strategy across 94 markets.
The move extends the bank’s push into 24/7 digital money solutions, building on offerings like Citi Token Services and USD Clearing.
Citi currently banks 90% of the leading e-commerce companies and 15 of the 20 largest fintechs worldwide.
The Wall Street firm plans to offer crypto custody services by 2026, allowing the bank to hold native digital assets like Bitcoin and ether on behalf of clients, according to a report by CNBC Earlier this month.
Citi shares were modestly lower at press time, around $98.60, Coinbase shares were 0.6% lower at $318.50.
Read more: Citi Eyes 2026 Crypto Custody Launch After Year of Quiet Development: CNBC
