Citi is partnering with Coinbase to develop digital asset payment solutions for its institutional clients and potentially other global clients, starting with fiat pay-ins and pay-outs.

The collaboration aims to support Coinbase’s on and off ramps, which connect traditional fiat systems with digital asset networks, while improving payment orchestration.

Both firms plan to share further details in the coming months, including the potential introduction of alternative fiat-to-onchain stablecoin payout methods.

Citi said the initiative builds on its ongoing efforts to expand payment solutions in an always-on digital finance environment.

These include Citi Token Services and 24/7 USD Clearing, which provide real-time settlement capabilities for institutional clients.

The bank operates in the top 50 e-commerce markets globally and serves 90% of the world’s leading e-commerce companies and 15 of the top 20 fintech firms.

“The financial landscape is changing fast, and we’re thrilled to join Coinbase to explore new and innovative payment options for our global clients.

With more than 300 payment clearing networks across 94 markets globally, we see collaborating with Coinbase as a natural extension of our ‘network of networks’ approach, further supporting our clients to make payments as if there were no borders.”

said Debopama Sen, Head of Payments, Services.

“Citi’s global network and expertise in payments make them an ideal partner as we work to advance digital asset capabilities.

By combining their reach with Coinbase’s leadership in digital assets, we’re creating solutions that can simplify and expand access to digital asset payments. This collaboration reflects our commitment to building the infrastructure needed for the next generation of financial services.”

said Brian Foster, Global Head – Crypto as a Service at Coinbase.

Featured image: Edited by Fintech News Singapore, based on image by EyeEm via Freepik