Citi, Coinbase Partner on Stablecoin Payments; Apollo Deal

Citigroup and Coinbase announced a partnership to pilot stablecoin payment solutions for institutional clients, initially focusing on fiat-to-onchain payouts, improved fiat on-/off-ramps and faster, programmable cross-border transfers to reduce time and cost. The collaboration will pair Coinbase’s digital-asset infrastructure with Citi’s global payments “network of networks,” spanning 94 markets and more than 300 clearing systems, to develop cross-border and enterprise capabilities including potential B2B invoicing and alternative fiat-to-onchain payout methods. Citi said clients want programmability, conditional payments, faster settlement and 24/7 access, and it expects the stablecoin market could expand materially by 2030 amid clearer U.S. regulation. Markets reacted positively, with analysts noting potential upside for USDC utility, broader crypto sentiment and Coinbase shares as institutions monitor volumes and liquidity. Separately, Coinbase Asset Management said it has partnered with Apollo Global Management to roll out stablecoin credit strategies — including over-collateralized lending, corporate direct lending and tokenized credit — enabling borrowing against digital assets and new tokenized credit products. Together, these efforts underscore a deeper integration of traditional finance and crypto infrastructure that could broaden institutional payment and credit use cases if pilots and products scale.