Citi and Coinbase Launch New Products for Fiat and Stablecoin Integration

Citi has announced an expansion of its partnership with Coinbase, introducing two innovative products aimed at bridging the gap between traditional fiat banking and stablecoin payments. This collaboration allows businesses to operate without the complexities of managing separate crypto systems.

The first product, Coinbase Virtual Accounts, utilizes Citi’s Virtual Account Wallet, enabling payment customers to enjoy bank-account-like features. Incoming fiat is automatically converted into stablecoins, simplifying the payment process.

The second product, Spring by Citi, allows institutional clients to accept stablecoin payments at checkout through Coinbase Payments, with automatic conversion back to fiat. Citi acts as the bank of record, facilitating transactions for merchants who can now reach over 150 million stablecoin holders without the need to manage digital assets directly.

Alec Lovett, head of infrastructure product at Coinbase, emphasized the importance of this bank link, stating that clients have always required a fast and compliant bridge between fiat and stablecoins, which Citi provides at scale. This initiative builds on a previous partnership established in October 2025 and comes in response to tightening stablecoin regulations in both the U.S. and EU.