Coinbase Stock Rises After Citi Partnership on Digital Payments
Coinbase (NASDAQ: COIN) shares climbed as much as 3.6% after the crypto exchange announced a strategic partnership with Citi (NYSE: C) to enhance digital asset payment solutions for institutional clients. The rally extended gains on a strong day for both tech and crypto stocks.
A New Bridge Between Banks and Blockchain
The partnership aims to improve fiat pay-ins, pay-outs, and payments orchestration, strengthening the bridge between traditional finance (TradFi) and the digital asset ecosystem. Through Coinbase’s on/off ramp infrastructure, both firms will work on seamless integration between bank payments and crypto transactions.
Citi and Coinbase plan to reveal more details in the coming months, including new stablecoin-based payout methods and alternative fiat-to-crypto conversion tools designed to serve global institutions.
Leaders Highlight Shared Vision
“The financial landscape is changing fast, and we’re thrilled to join Coinbase to explore innovative payment solutions for our global clients,” said Debopama Sen, Head of Payment Services at Citi, noting the bank’s payment network across 94 markets.
Brian Foster, Global Head of Crypto as a Service at Coinbase, added, “Citi’s global reach and deep expertise make them an ideal partner as we advance digital asset capabilities.”
Citi Expands Its Digital Finance Footprint
This collaboration builds on Citi’s existing digital payment offerings, such as Citi Token Services and 24/7 USD Clearing, which already support 90% of top eCommerce firms and 15 of the world’s 20 largest FinTech companies.
The partnership marks another major milestone in bridging traditional banking and cryptocurrency, as institutional adoption of digital assets continues to accelerate globally.
