Citi and Coinbase are teaming up to build digital asset payment rails for institutional clients, starting with faster fiat-to-crypto transfers and always-on settlement.
Citigroup plans to launch crypto custody services in 2026 after two to three years of development according to global head Biswarup Chatterjee, as the bank joins nine global banking giants developing a jointly-backed stablecoin with market projected to process over $50 trillion in annual payments by 2030.
Citigroup invested in stablecoin infrastructure company BVNK through Citi Ventures at a valuation exceeding $750 million, reversing its previous warnings about deposit flight risks as stablecoins processed over $5 trillion in transactions over the past 30 days.
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