Digital asset company Coinbase announced a collaboration with Citi focused on enabling digital asset payment capabilities for Citi’s institutional clients.
The collaboration will combine Coinbase’s infrastructure for digital assets with Citi’s global payment network, which spans 94 markets and includes access to over 300 payment clearing systems.
Initial efforts will concentrate on improving on-ramps and off-ramps, the systems used by institutions to convert between fiat and digital assets, as well as stablecoin payment solutions and other infrastructure initiatives. These tools are seen as the foundation for integrating digital assets into the wider financial system, and the goal is to make them available 24 hours a day, seven days a week. Further details about the work will be shared in the coming months.
