Coinbase and Citi to explore digital payments, including stablecoin payouts, for bank’s institutional clients
Coinbase and Citi are collaborating to explore digital payment solutions, focusing on stablecoin payouts for Citi's institutional clients.Summary
Cryptocurrency exchange Coinbase and major bank Citi have announced a joint exploration into improving digital payment initiatives, specifically focusing on "fiat to onchain stablecoin payout methods" for Citi's institutional clients. Coinbase CEO Brian Armstrong stated that crypto and stablecoins are the tools updating the global financial system, expressing excitement about collaborating with Citi. Brian Foster of Coinbase noted that combining Citi's global network with Coinbase's digital asset leadership will simplify and expand access to digital asset payments. Citi's Head of Payments and Services, Debopama Sen, views the partnership as a natural extension of their 'network of networks' approach. Updates on the stablecoin payout exploration are expected in the coming months.
(Source：The Block)