Citi and Coinbase Partner to Let Merchants Accept Stablecoin Payments Through Spring by Citi

Citigroup has expanded its partnership with Coinbase to allow institutional clients to accept stablecoin payments, connecting traditional banking infrastructure with digital asset rails. Merchants using Spring by Citi, the bank's payment acceptance business, can now take stablecoins at checkout through an integration with Coinbase Payments. The digital tokens are automatically converted into fiat currency, with Citi settling the funds as the bank of record, meaning merchants do not need to hold or manage crypto themselves.

The arrangement bridges the gap between fiat and digital asset payments for corporations and consumers, with Coinbase providing the underlying infrastructure. The move is part of a broader push by large financial institutions to deepen involvement in stablecoin-based commerce as regulatory clarity improves and enterprise demand grows.