Citi Partners With Coinbase to Enable Stablecoin Payments for Corporate ClientsAccording to The Wall Street Journal, Cit | Hanami
Citi Partners With Coinbase to Enable Stablecoin Payments for Corporate Clients
According to The Wall Street Journal, Citi has partnered with Coinbase to enable corporate clients, including large multinational companies, to accept stablecoin payments through Citi’s merchant acquiring services. Coinbase will provide the stablecoin payment rails and underlying blockchain infrastructure, automatically converting stablecoins into fiat, with Citi serving as the bank of record for settlement.
Coinbase payments clients will also be able to use Citi’s banking capabilities to receive, hold and make payments through account-like tools. Cash received can be automatically converted into stablecoins and held on Coinbase, where USDC currently earns up to 3.75% in annual rewards.