started · updated
Citigroup and Coinbase expand partnership for stablecoin payments and derivatives clearing
Citigroup and Coinbase have announced an expanded partnership to integrate traditional banking with digital asset infrastructure. The collaboration focuses on two primary initiatives for institutional clients. First, Coinbase has selected Citi’s Virtual Account Wallet, part of its Banking-as-a-Service offering, to power Coinbase Virtual Accounts. These accounts allow businesses to receive, hold, and transfer funds with the ability to automatically convert incoming fiat currency into stablecoins.
Second, the companies are integrating Coinbase’s payment infrastructure with Citi’s Spring by Citi platform. This enables merchants to accept stablecoin payments at checkout; Coinbase handles the conversion to fiat, while Citi acts as the bank of record to settle funds, allowing businesses to avoid direct crypto custody. Both services are launching initially in the United States.
Separately, Coinbase has achieved a regulatory milestone as the Commodity Futures Trading Commission (CFTC) registered Coinbase Clearing LLC as a derivatives clearing organization. This makes it the first USDC-native clearinghouse in the U.S., allowing the company to clear fully collateralized futures, options on futures, and swaps using USDC for 24/7 settlement.
Entities
CFTC · Citigroup · Coinbase · Coinbase Clearing LLC · Commodity Futures Trading Commission · Spring by Citi · United States
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 11 SOURCES] Institutional clients using Spring by Citi can accept stablecoin payments at checkout. www.fintechnews.org · coingape.com · ethnews.com · fxdailyreport.com · bitcoinmagazine.com · +6 more
- [● 12 SOURCES] Citigroup and Coinbase have expanded their partnership to develop stablecoin infrastructure. bitfinanzas.com · www.fintechnews.org · journalducoin.com · coingape.com · ethnews.com · +7 more
- [● 9 SOURCES] Coinbase has selected Citi’s Virtual Account Wallet to power Coinbase Virtual Accounts. www.fintechnews.org · coingape.com · ethnews.com · fxdailyreport.com · bitcoinmagazine.com · +4 more
- [● 10 SOURCES] Coinbase will convert stablecoin payments into fiat currency for merchants. www.fintechnews.org · coingape.com · ethnews.com · fxdailyreport.com · bitcoinmagazine.com · +5 more
- [● 9 SOURCES] Coinbase Virtual Accounts will automatically convert incoming fiat into stablecoins. www.fintechnews.org · coingape.com · ethnews.com · fxdailyreport.com · bitcoinmagazine.com · +4 more
- [● 4 SOURCES] The new clearinghouse is limited to fully collateralized futures, options on futures, and swaps. unchainedcrypto.com · siamblockchain.com · mycryptoparadise.com · cointelegraph.com
- [● 5 SOURCES] The CFTC registered Coinbase Clearing LLC as a derivatives clearing organization. cryptobriefing.com · unchainedcrypto.com · mycryptoparadise.com · siamblockchain.com · cointelegraph.com
- [● 4 SOURCES] Coinbase Clearing LLC is the first USDC-native clearinghouse for derivatives in the US. cryptobriefing.com · unchainedcrypto.com · mycryptoparadise.com · siamblockchain.com