Coinbase announced on Monday, October 28, a collaboration with Wall Street giant Citi. The companies will initiate joint efforts to test and improve stablecoin utility, the exchange said in an official statement. These efforts aim to bring more ease to digital asset transactions, particularly for institutional investors.
Under the partnership, these giants from the crypto and traditional banking sectors will focus on finding simpler ways to allow institutional investors to process conversions between fiat and cryptocurrencies. This will be done by analysing potential on-ramp and off-ramp payment solutions for assets like stablecoins.
“By working with Citi and other major banks, we’re building the infrastructure that the global economy needs to adopt and scale digital asset solutions,” the Delaware, U.S.-headquartered exchange said in its announcement.
Sharing the development on X, Coinbase CEO Brian Armstrong said crypto and stablecoins are tools which will upgrade the existing financial systems internationally.
“Excited to be collaborating with Citi to work on improving stablecoin utility and digital asset adoption with their clients,” he noted.
Citi, that is also looking to integrate AI into its functioning, reported net income for the third
quarter 2025 of $3.8 billion on revenues of $22.1 billion – clocking a nine percent increase from the prior-year period.
In recent months, the bank has ramped up its exploration of the digital assets sector in alignment with U.S. President Donald Trump’s pro-crypto stance.
Last month, the bank said in a survey that by 2030 a tenth of the worldwide post-trade market volume may be managed using tokenized assets and stablecoins.
By next year, the bank also plans to roll out crypto custody service, reports have emerged.