Citi Taps Coinbase to Enhance Crypto Payments for Institutions

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

In the initial phase, the bank aims to accelerate fiat payments and payments and improve orchestration to better combine traditional finance with crypto on- and off-ramps, the bank said in a press release.

“The financial landscape is changing rapidly, and we are excited to join Coinbase to explore new and innovative payment options for our global customers,” Debopama Sen, Citi’s head of payments and services said in the release. “With more than 300 payment payment networks in 94 markets around the world, we see the collaboration with Coinbase as a natural extension of our ‘network of networks’ approach, which also supports our customers to make payments as if there were no borders.”

Editor’s Note: This is breaking news and will be updated.