Citi and Coinbase Forge Stablecoin Network to Power 24/7 Corporate Payments

Citigroup has partnered with Coinbase to build a stablecoin-based payments infrastructure designed for its corporate and institutional clients, marking a decisive step in the integration of blockchain technology within traditional finance. The collaboration aims to enable instant crypto-to-fiat transfers and real-time cross-border settlements — a leap forward for corporate banking systems still constrained by legacy rails like ACH and SWIFT.

Announced on Monday, the initiative reflects a growing institutional embrace of digital currencies for practical, large-scale financial operations. Citi’s goal is straightforward: make global fund movement faster, cheaper, and available around the clock. As stablecoins mature into reliable transaction instruments, major banks are racing to modernize their payment networks with blockchain-enabled efficiencies.

Debopama Sen, head of Payments for Citi’s Services division, said clients increasingly demand programmable, conditional payments that combine the speed of crypto with the reliability of traditional banking. “We are exploring solutions to really enable on-chain stablecoin payments for our clients,” she explained, adding that stablecoins “will be another enabler in the digital payment ecosystem,” helping to expand functionality for institutional users.

This partnership builds on Citi’s earlier blockchain initiatives, including an internal tokenized deposits platform that allows clients to transfer value within its own network at any time. The new venture extends those capabilities to public and permissioned blockchains, bridging the gap between conventional financial infrastructure and open crypto ecosystems.

Coinbase, which already works with over 250 financial institutions globally, provides the technical backbone. Its “crypto-as-a-service” platform offers custody, staking, and settlement capabilities tailored for banks and brokers. Brian Foster, Coinbase’s global head of crypto services, said the firm had “spent years developing the specialized infrastructure” that large financial players now require to operate in digital asset markets.

The timing of the Citi–Coinbase collaboration coincides with a surge in stablecoin adoption following the passage of the Genius Act in July 2025. Signed by President Donald Trump, the legislation established a federal regulatory framework mandating that stablecoin issuers back tokens with liquid assets such as U.S. Treasuries. Since its enactment, stablecoin usage has accelerated dramatically: more than $10 billion in payments were processed in August alone, up from $6 billion in February, according to data from Artemis.

Analysts believe that, at the current pace, annual stablecoin transactions could exceed $120 billion by 2026. Artemis researcher Andrew Van Aken noted that companies making average payments of $250,000 are shifting to stablecoins for their speed and reliability. “As stablecoins prove to be better money, that will only accelerate people’s trust and adoption,” he said.

With banks like Citi and payment platforms such as Zelle now embracing blockchain rails for cross-border transfers, the financial world’s long-standing resistance to crypto appears to be softening. What began as an experiment in alternative money is fast becoming a cornerstone of modern financial infrastructure.