Coinbase powers Citi's stablecoin payment services
Citi clients can now accept stablecoin payments via Coinbase
Citi institutional clients can now accept stablecoin payments through Spring by Citi using Coinbase's payments infrastructure, Coinbase said on Sept. 28.
Coinbase also said its Virtual Accounts can automatically convert incoming traditional money into stablecoins using Citi's Virtual Account Wallet. A stablecoin is a type of cryptocurrency designed to hold a steady value.
Two separate payment routes
- Citi institutional clients can accept stablecoin payments through Spring by Citi using Coinbase infrastructure.
- Coinbase Virtual Accounts can automatically convert incoming traditional money into stablecoins using Citi's Virtual Account Wallet.
- The first route starts with a stablecoin payment; the second starts with a traditional currency payment and ends with stablecoins in the customer's account.
What the announcement confirms
Coinbase said the capability is available now. The two routes serve different customers and begin with different forms of money.
The partnership predates these named services. In October 2025, Citi said it and Coinbase intended to develop institutional digital asset payment capabilities, initially focused on fiat pay-ins and pay-outs for Coinbase's on- and off-ramps and payment orchestration.
What remains unknown
The announcement does not identify a client that has processed a payment through Spring or disclose how much has been transacted.
Coinbase has not specified the eligible currencies or stablecoins in the public summary, so the exact conversion choices remain unclear. The stated availability leaves open whether institutions are using either path and at what scale.
The announcement also does not establish that a single customer can use both paths.
Why the Citi-Coinbase tie-up matters
The companies have moved from an exploratory plan to specified payment capabilities. For Citi's institutional payment clients, this adds a stablecoin acceptance option; for Coinbase Virtual Account customers, it adds an automated route from traditional money receipts into stablecoins.
The missing operating details limit any assessment of the partnership's reach.
Source
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.