Citi eyes stablecoin payments through new partnership with Coinbase
Citi has partnered with Coinbase to pilot stablecoin payments, aiming to enhance digital asset capabilities for its clients.Summary
Citigroup is partnering with the crypto exchange Coinbase to pilot stablecoin payment services, potentially making it one of Wall Street's first major banks to offer such services. This move aligns with growing client demand for faster, programmable, and round-the-clock payment solutions. Citi's head of payments, Debopama Sen, confirmed they are exploring on-chain stablecoin payments, viewing stablecoins as a key enabler for the digital payment ecosystem. This development follows the passage of the US GENIUS Act, which establishes a stablecoin regulatory framework, and coincides with Citi's significantly increased forecast that the stablecoin market could reach $4 trillion by 2030, up from its current size of around $315 billion.
(Source：Cointelegraph)