Wall Street giant Citi (C) and Coinbase (COIN) are teaming up to develop digital asset payment services for the bank’s institutional clients, aiming to bridge traditional and crypto finance, the firms said in a press release Monday.
The initial phase will focus on streamlining fiat pay-ins and pay-outs, supporting Coinbase’s on/off-ramps, and improving payment orchestration.
Future initiatives may include exploring alternative fiat-to-stablecoin payout methods and expanding 24/7 access for Citi clients.
Debopama Sen, Citi’s head of payments and services, said the partnership aligns with Citi’s “network of networks” strategy across 94 markets.
The move extends the bank’s push into 24/7 digital money solutions, building on offerings like Citi Token Services and USD Clearing.
Citi currently banks 90% of the top e-commerce firms and 15 of the world’s 20 largest fintechs.
The Wall Street firm plans to offer crypto custody services in 2026, enabling the bank to hold native digital assets like bitcoin and ether on behalf of clients, according to a report by CNBC earlier this month.
Citi shares were modestly lower at publication time, around $98.60, Coinbase shares were 0.6% lower at $318.50.
Read more: Citi Eyes 2026 Crypto Custody Launch After Years of Quiet Development: CNBC