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Citi and Coinbase partner on stablecoin infrastructure for clients

The companies said Citi clients would be able to move between regular money and stablecoins without running both banking and crypto systems.

Reported · Written up by our desk · Stablecoins

Citi is working with Coinbase to build stablecoin infrastructure that is designed to let Citi clients shift between regular money and stablecoins. Bitcoin Magazine reports that the two companies said in a joint statement that the setup is meant to reduce the need for clients to build and manage both banking and crypto systems themselves.

The announcement was framed as part of a broader trend of big banks using Bitcoin’s underlying technology, with the coverage noting that Citi has also been expanding its efforts in related crypto areas. Bitcoin Magazine adds that Citi said last month it would allow institutional investors to custody both traditional assets and bitcoin within a single framework later this year.

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