Citi Taps Coinbase to Let Big Clients Accept Stablecoin Payments
C sits 42% above its 52-week low of $93.66.
Summary
Citi is partnering with Coinbase to let its institutional clients accept stablecoin payments at checkout, with Coinbase providing the payment rails and Citi settling as bank of record. The deal also lets Coinbase payments customers use Citi banking capabilities to hold funds that auto-convert to stablecoins earning 3.75% annually. Separately, Citi is expanding its token services to Japan and the UAE, now live in seven jurisdictions. This is a concrete step in Citi's digital-assets strategy, following its Q2 strength and $30B buyback, and comes despite the Clarity Act's failure in the Senate. The partnership deepens Citi's crypto footprint and gives Coinbase a major banking partner, though revenue impact is likely modest near-term.
Updates
· Benzinga — Citi Head of Services Shahmir Khaliq and Coinbase Institutional head Brett Tejpaul commented on the partnership, saying it completes the jigsaw puzzle and lets customers move between dollars and stablecoins without leaving traditional banking.
At the time of this announcement, C was trading at $133.31 on NYSE in the Finance sector, with a market capitalization of approximately $225.2B. The 52-week trading range was $93.66 to $147.96. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.