Coinbase and Citi Link Fiat Accounts and Stablecoin Payments for Businesses

Coinbase announced on September 28, 2026 a wider collaboration with Citi that links Coinbase's payments infrastructure with Citi's banking services. It has two parts.

Coinbase Virtual Accounts, powered by Citi

Coinbase chose Citi's Virtual Account Wallet, part of Citi's banking-as-a-service offering, to run Coinbase Virtual Accounts. These accounts let Coinbase's payments customers accept, hold and send funds as they would with a bank account, and incoming fiat is converted into stablecoins automatically. Citi provides the regulated banking layer underneath.

Stablecoin acceptance through Spring by Citi

Coinbase's payments engine now connects to Spring by Citi, Citi's merchant acquiring and checkout platform. Citi's institutional clients can let customers pay in stablecoins without holding stablecoins themselves. Coinbase converts the payment into fiat, and Citi settles the funds as the bank of record.

What businesses can do

Offer branded virtual accounts to their own customers

Convert incoming fiat into stablecoins without a separate treasury process

Accept stablecoin payments and receive fiat

Both services launch in the US first, with more capabilities planned in the following months. Coinbase said its payments engine reaches a market of more than 150 million stablecoin holders worldwide.