Coinbase powers Citi’s new stablecoin payment rails

Coinbase announced on Sept. 28 that it is providing the payments infrastructure for Citi's new stablecoin services. Institutional clients can now accept stablecoin payments via Spring by Citi, while Coinbase Virtual Accounts allow for the automated conversion of incoming fiat currency into stablecoins using Citi's Virtual Account Wallet. The partnership establishes two distinct payment flows, though specific eligible currencies and transaction details have not been disclosed.