Citi Taps Coinbase to Enhance Crypto Payments for Institutions

Wall Street bank Citi and crypto exchange Coinbase are teaming up to “boost digital-asset payment capabilities” for the bank’s institutional clients.

In the initial phase, the bank will fiat pay-ins and payouts and improve orchestration to better bridge traditional finance with crypto on- and off-ramps, Citi said in a press release.

“The financial landscape is changing fast, and we’re thrilled to join Coinbase to explore new and innovative payment options for our global clients,” Debopama Sen, the head of payments and services at Citi said in the release. “With more than 300 payment clearing networks across 94 markets globally, we see collaborating with Coinbase as a natural extension of our ‘network of networks’ approach, further supporting our clients to make payments as if there were no borders.”

The partnership should result in “smoother” money transfers and make sure they’re accessible “24/7 for Citi’s clients,” the companies said in their release.

“By combining their reach with Coinbase’s leadership in digital assets, we’re creating solutions that can simplify and expand access to digital asset payments,” Brian Foster, the global head of crypto as a service at Coinbase said. “This collaboration reflects our commitment to building the infrastructure needed for the next generation of financial services.”

Citi has made huge strides in embracing digital assets this year. Earlier this month, Citi global head of partnerships and innovation Biswarup Chatterjee told CNBC the bank was gearing up to launch crypto custody services in 2026.

“We’re hoping that in the next few quarters, we can come to market with a credible custody solution that we can offer to our asset managers and other clients,” Chatterjee told CNBC.

Separately, its equities analysts have warmed up to Bitcoin treasury juggernaut Strategy—but not without come caveats.

Last week, Citi analysts gave MSTR a “buy” rating. But that rating largely depends on BTC meeting price projections, they added.

“The stock presents significant risks due to its positioning as a leveraged proxy for Bitcoin,” they wrote. “Its value is nearly 100% tied to the sometimes-volatile cryptocurrency, meaning that even a moderate decline in Bitcoin’s price can lead to magnified losses for MSTR shareholders.”