CITI EXPANDS COINBASE PARTNERSHIP TO POWER STABLECOIN PAYMENTS FOR BUSINESSES

Summary from the TLDR Fintech newsletter

Citi and Coinbase are expanding their partnership to connect traditional bank payments with stablecoins for corporate customers. Coinbase will use Citi's Virtual Account Wallet to let businesses accept and hold fiat while automatically converting funds into stablecoins, while Citi clients will be able to accept stablecoin payments through Spring by Citi, with Coinbase converting the assets back into fiat for settlement.