Banking Giant Citi Partners With Top US Crypto Exchange Coinbase To Help Institutional Clients Use Digital Assets
Citi has partnered with Coinbase to assist its institutional clients in converting fiat currency to cryptocurrency. The collaboration focuses on payment orchestration and facilitating fiat pay-ins/pay-outs, enhancing Coinbase's on/off-ramps. This move reflects Citi's commitment to the evolving financial landscape, as the bank is also developing a crypto custody product set for a 2026 launch, aimed at holding cryptocurrency for clients.
The banking behemoth Citi has brought Coinbase on board to help its institutional clients convert fiat currency to crypto.
Citi announced the collaboration with the top US crypto exchange on Monday, noting the partnership would focus on payment orchestration and fiat pay-ins/pay-outs, “supporting Coinbase’s on/off-ramps.”
Debopama Sen, the head of payments at Citi’s Services division, says the new venture is the result of a fast-changing financial landscape.
Citi appears to be diving full force into the crypto sector: Earlier this month, one of the bank’s executives, Biswarup Chatterjee, told CNBC that the firm had been working on a crypto custody product for several years.
The product, which is targeting a 2026 launch date, would involve Citi holding crypto, according to Chatterjee, the global head of partnerships and innovation at Citi Services.
