Wall Street giants Citi (C) and Coinbase (COIN) are partnering to develop a digital asset payment service for the bank’s institutional clients, aiming to bridge traditional and crypto finance, the companies said in a press release on Monday.
The first phase will focus on streamlining fiat deposits and withdrawals, supporting Coinbase on/off ramps, and improving payment orchestration.
Future initiatives could include exploring alternative payment methods from fiat to stablecoins and expanding 24/7 access for Citi customers.
Devopama Sen, Citi’s head of payments and services, said the partnership is consistent with Citi’s “network of networks” strategy across 94 markets.
The move expands the bank’s commitment to 24/7 digital money solutions, built on services such as City Token Services and USD Clearing.
Citi currently banks 90% of the largest e-commerce companies and 15 of the world’s 20 largest fintech companies.
The Wall Street firm plans to offer cryptocurrency custody services in 2026, allowing banks to hold native digital assets such as Bitcoin and Ether on behalf of their customers, CNBC reported earlier this month.
Citi stock was slightly lower at around $98.60 at press time, and Coinbase stock was down 0.6% at $318.50.
