Key Takeaways
Citi and Coinbase expanded their partnership on September 28, 2026, letting corporate and institutional clients accept stablecoin payments that settle automatically in regular dollars.
Coinbase Virtual Accounts will run on Citi's Virtual Account Wallet, and Citi's institutional clients can take stablecoin payments through Coinbase's rails using a service called Spring by Citi.
The deal builds on a partnership the two first announced in October 2025 and starts in the United States, another sign of large banks moving stablecoins into everyday business payments.
Citi and Coinbase expanded their partnership on September 28, 2026, giving businesses a way to accept stablecoin payments that convert to and from regular dollars automatically, according to statements from both companies reported by Bloomberg and The Block.
The setup is built so a company never has to hold or manage crypto directly. Coinbase Virtual Accounts will run on Citi's Virtual Account Wallet, letting customers accept, hold, and pay in fiat while the system converts to stablecoins in the background. On the other side, Citi's institutional clients can accept stablecoin payments through Coinbase's payment rails and have them settle in fiat, using a product Citi calls Spring by Citi.
The launch starts in the United States, and neither company named which stablecoins would be supported at the outset.
This is not a first date. Citi and Coinbase announced a partnership in October 2025 focused on connecting fiat and crypto payment rails, and the new step pushes it toward corporate and merchant use. Citi's head of payments, Debopama Sen, framed the goal as building payment infrastructure that works across both traditional and digital money.
The pattern here is hard to ignore. Citi is one of the largest banks in the world, and it is now routing stablecoin settlement to business clients rather than studying it. That follows SoFi moving a $25 billion card program to stablecoin settlement and Coinbase pushing stablecoin payments into community banks, all of it moving faster since the GENIUS Act gave US stablecoins a federal framework. The rails a transparent, automated funding model depends on keep getting stronger. Worth watching.
People Also Ask
What did Citi and Coinbase announce?
On September 28, 2026, Citi and Coinbase expanded their partnership to let businesses accept stablecoin payments that settle automatically in fiat, so companies do not have to hold crypto themselves.
What is Spring by Citi?
Spring by Citi is the service that lets Citi's institutional clients accept stablecoin payments through Coinbase's payment rails and receive settlement in regular dollars.
Which stablecoins does the Citi and Coinbase service use?
Neither company specified which stablecoins would be supported at launch, and the service starts in the United States.
Why are big banks adding stablecoin payments?
After the GENIUS Act set a federal framework for US stablecoins, banks like Citi and SoFi are moving stablecoin settlement into business and card payments to cut costs and speed up transfers.