Citi, Coinbase collaborating on digital asset payment capabilities

Citi (C) and Coinbase (COIN) announced their intention to collaborate on digital asset payment capabilities for Citi’s institutional clients and explore additional global clients in the future. “The initial phase of their collaboration focuses on fiat pay-ins/pay-outs, supporting Coinbase’s on/off-ramps-the bridge between traditional fiat and digital asset ecosystems-along with payments orchestration. Additional details on specific initiatives, including the exploration of creating alternative fiat to onchain stablecoin payout methods, will be shared in the coming months. This collaboration aims to make these transitions smoother and accessible 24/7 for Citi’s clients,” the companies stated.