Citi and Coinbase have agreed to collaborate on
digital asset payment capabilities for institutional clients. The companies plan to
streamline how organizations move funds between fiat and digital asset
platforms.
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According to the announcement, their first goal
targets a pain point for large organizations: moving money efficiently between
fiat accounts and digital asset platforms.
Enabling Access to Coinbase on and off Ramps
The collaboration will focus on simplifying pay-ins
and pay-outs, improving access to Coinbase’s on- and off-ramps, and introducing
better orchestration for payment flows around the clock.
The two firms plan to share more details in the coming
months. Early discussions include exploring alternative ways to connect fiat
balances to on-chain stablecoin payouts. If launched, such features could offer
institutions more flexibility in settling transactions.
“The financial landscape is changing fast, and we’re
thrilled to join Coinbase to explore new and innovative payment options for our
global clients,” commented Debopama Sen, Head of Payments, Services at Citi..
“With more than 300 payment clearing networks across 94
markets globally, we see collaborating with Coinbase as a natural extension of
our ‘network of networks’ approach, further supporting our clients to make
payments as if there were no borders.”
The collaboration builds on Citi’s broader strategy of responding to a financial environment in which clients expect real-time, 24/7 money
movement. The bank has already introduced services like Citi
Token Services and 24/7 USD Clearing to support round-the-clock transactions
for institutional clients.
Context for Citi’s Move into Digital Money
Citi serves a large share of the global technology and e-commerce economy. The bank works with 90% of the top e-commerce companies
and 15 of the 20 largest fintech firms worldwide, positioning it as a
significant gateway for corporate payment innovation.
If successful, this partnership could accelerate the adoption of digital asset settlement options across global enterprises. It also
signals rising interest among major financial institutions in integrating
digital money infrastructure, rather than building isolated solutions.
Both firms intend to expand the initiative beyond
Citi’s institutional clients over time, allowing more corporate
users to access blended fiat and digital payment rails.
This article was written by Jared Kirui at www.financemagnates.com.
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