In a groundbreaking move, Citi and Coinbase have announced a major partnership aimed at enhancing digital asset payment capabilities for Citi’s institutional clients. This collaboration marks a significant step toward integrating traditional finance with the rapidly growing world of cryptocurrency.
The partnership will begin with fiat pay-ins and pay-outs, supporting Coinbase’s on/off-ramp services. This means global clients will soon have access to seamless, 24/7 payment solutions that make it easier to move between fiat and digital assets. By combining Citi’s extensive financial infrastructure with Coinbase’s digital asset expertise, both companies aim to create a new standard for global payments and digital asset transactions.
Citi’s Global Network Powers the Future of Payments
According to Debopama Sen, Citi’s Head of Payments Services, this collaboration is part of Citi’s “network of networks” strategy. The initiative leverages Citi’s 300 payment networks across 94 markets, providing a unified and simplified approach to cross-border payments. By integrating digital asset functionality, Citi is positioning itself as a leader in the future of global financial infrastructure.
Citi’s extensive network already supports a wide range of institutional clients — including 90% of the world’s top eCommerce companies — and this new partnership enhances its ability to serve clients in an increasingly digital economy.
Coinbase Brings Digital Asset Expertise to Traditional Finance
From Coinbase’s perspective, the partnership underscores its commitment to making digital assets more accessible to institutional players. Brian Foster, an executive at Coinbase, emphasized that the collaboration “combines Citi’s global reach with Coinbase’s expertise in digital assets to create next-generation financial infrastructure.”
This partnership builds on Citi’s expanding digital payments portfolio, which includes innovative services like Citi Token Services and 24/7 USD Clearing. Together, Citi and Coinbase are paving the way for a crypto-integrated financial ecosystem, allowing institutional clients to experience faster, more transparent, and more efficient transactions worldwide.
