Citigroup Partners With Coinbase to Support Stablecoin Payments for Institutional Clients
JH Kim
Summary
- Citigroup and Coinbase said they are partnering to support stablecoin payment services for institutional clients.
- The two companies plan to provide infrastructure for institutional stablecoin use by linking traditional financial systems with blockchain-based payment methods.
- Details including which stablecoins will be supported and the service launch timeline have not been disclosed.
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Citigroup is partnering with cryptocurrency exchange Coinbase to support stablecoin payment services for institutional clients.
Cointelegraph reported on September 28 that Citigroup and Coinbase plan to provide infrastructure that will allow institutional clients to use stablecoins for payments.
The two companies aim to connect traditional financial systems with blockchain-based payment methods to support institutional use of stablecoins.
Specific details, including which stablecoins will be supported and when the service will launch, were not disclosed.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.