CITI PARTNERS WITH COINBASE FOR INSTITUTIONAL STABLECOIN PAYMENTS

Summary from the TLDR Crypto newsletter

Citi, with $2.8T in assets and a payment network spanning 94 markets and 300+ clearing systems, has partnered with Coinbase to offer institutional clients stablecoin payment services covering fiat-to-stablecoin conversion, onchain transfers, and stablecoin-to-fiat settlement. The arrangement layers Coinbase's crypto custody and $246B asset platform onto Citi's regulated banking rails, giving institutional clients a compliant on/off ramp to stablecoin flows without depending on crypto-native intermediaries. The deal extends one of the largest global correspondent banking networks to onchain settlement, putting stablecoin payment reach within regulated multicurrency infrastructure that institutional counterparties already operate inside. Citi also projects stablecoin issuance will reach $1.9T by 2030 in its base case, indicating the bank is building this infrastructure ahead of anticipated supply growth rather than in response to it.