Citi and Coinbase expanded their partnership on September 28, linking Citi’s corporate banking services with stablecoin payments in both directions. Citi’s institutional clients can accept stablecoin payments through Coinbase’s blockchain infrastructure, with the digital assets converted into fiat and settled by Citi as the bank of record. Merchants therefore do not need to manage wallets, custody tokens or hold crypto on their balance sheets. Coinbase is also using Citi’s Virtual Account Wallet infrastructure for Coinbase Virtual Accounts, which provide bank-account-like functionality and can automatically convert incoming fiat into stablecoins where appropriate. The arrangement combines Citi’s compliance, cash-management and corporate banking capabilities with Coinbase’s blockchain settlement and conversion infrastructure, positioning stablecoins as an additional payment option within existing financial services rather than a replacement for conventional payment networks. Citi is separately expanding its own tokenized payment infrastructure. The article was written by the News Desk and edited by Samuel Rae.