Citi and Coinbase expand fiat-stablecoin partnership with two products

Citi said it and Coinbase expanded their partnership with two U.S.-first products connecting fiat banking and stablecoin payments. Coinbase Virtual Accounts use Citi's Virtual Account Wallet to give payments customers bank-account-like features and automatically convert incoming fiat into stablecoins. Spring by Citi lets institutional clients accept stablecoin payments at checkout through Coinbase Payments. Spring by Citi automatically converts those payments to fiat, with Citi settling as the bank of record. According to the release, merchants can reach more than 150 million stablecoin holders without holding, custodying or managing digital assets. Alec Lovett, Coinbase's head of infrastructure product, said Citi provides a fast, compliant bridge between fiat and stablecoins at scale for clients building on Coinbase. The expansion builds on a partnership from October 2025.