Bloomberg: Citigroup Teams Up with Coinbase to Explore Offering Stablecoin Payment Services to Customers

BlockBeats News, October 27th. According to Bloomberg, Citigroup has announced a partnership with Coinbase Global Inc. to jointly expand digital asset payment capabilities and provide services to the bank's corporate clients. This collaboration is the latest example of a Wall Street giant turning to the blockchain field for innovation amid years of regulatory warnings about the risks of digital assets. In the early stages of the partnership, the focus will be on exploring how to streamline Citigroup's institutional clients' fund conversion processes — including converting cryptocurrency to fiat currency and the reverse operation of purchasing cryptocurrency with fiat — and will cover cross-border scenarios.