TLDR
- Coinbase and Citigroup are expanding a partnership first announced in October 2025 to support stablecoin payments for business clients.
- Coinbase will use Citi’s Virtual Account Wallet to power its own Virtual Accounts product for corporate customers.
- Citi’s institutional clients will be able to accept stablecoin payments through the Spring by Citi platform, with Coinbase handling conversion.
- The rollout starts in the United States, with more features planned for later months.
- Citi is also building its own tokenized payment tools in Japan and the United Arab Emirates.
Coinbase and Citigroup are expanding a partnership built around stablecoin payments for businesses. The two firms first teamed up in October 2025 to connect fiat payments with crypto infrastructure.
We're bringing stablecoins into the banking system with @Citi.
That means instant stablecoin acceptance for institutions – all on bank-grade, regulated infrastructure.
The next step for stablecoins becoming everyday money. pic.twitter.com/9ftQ50yl5y
— Coinbase 🛡️ (@coinbase) September 28, 2026
This week’s announcement adds new tools on both sides. Corporate clients of each company will get more ways to move between traditional money and stablecoins.
How the Payments Work
Coinbase will use Citi’s Virtual Account Wallet to power its Coinbase Virtual Accounts product. This lets business customers accept, hold and pay out fiat currency.
Incoming funds can also be automatically converted into stablecoins. That gives companies a bank-like account experience without needing to manage crypto directly.
On the other side, Citi’s institutional clients will be able to accept stablecoin payments through the Spring by Citi platform. Coinbase will handle the stablecoin payment rails.
Coinbase will then convert the digital assets back into fiat. Citi settles the funds as the bank of record, so merchants keep their usual settlement process.
The setup is designed to let large companies accept digital payments without building their own blockchain systems. It also means customers can choose stablecoins at checkout while merchants still get paid in regular currency.
What the Companies Are Saying
Debopama Sen, Citi’s head of payments, said the bank wants payment infrastructure that works across both traditional and digital systems. She described the goal as making payments “seamless” and “interoperable.”
Alec Lovett, Coinbase’s head of infrastructure product, said the partnership gives businesses a fast and compliant link between fiat and stablecoins. He said users can switch between systems without juggling separate payment stacks.
Brett Tejpaul, head of Coinbase Institutional, said the deal connects Coinbase customers with bank-grade fiat infrastructure. He added that Citi clients can now pay with stablecoins without building their own crypto systems.
Coinbase CEO Brian Armstrong commented on the broader partnership when it first launched last year. He said stablecoins are becoming standard tools for updating the global financial system.
The new services will launch first in the United States. Both companies said more institutional payment features are expected in the coming months.
Citi is also working on its own tokenized payment system outside this partnership. The bank has already rolled out blockchain-based token services in Japan and the United Arab Emirates.
Citi has also updated its 12-month price targets for Bitcoin and Ethereum. That change reflects the bank’s ongoing focus on digital asset markets alongside its payments work.
The expanded partnership keeps both companies focused on linking regulated banking rails with stablecoin infrastructure. For now, the United States remains the starting point before any wider rollout.
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