Payments

Coinbase adds accounts to Citi's Virtual Account Wallet

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September 28, 2026

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Citi and Coinbase are partnering to deliver traditional banking alongside digital assets. The cryptocurrency company selected Citi's Virtual Account Wallet to power its Virtual Accounts, according to a press release.

With this service, customers can accept, hold, and pay funds, as well as convert fiat into stablecoins. In addition, Citi will allow institutional merchants to accept stablecoins at checkout using its Spring by Citi payment platform, powered by Coinbase Payments. Incoming digital currency automatically converts to fiat, with Citi settling the funds as the bank of record. This allows merchants to serve stablecoin holders without managing digital assets directly.

"This partnership with Coinbase is a pivotal step in our ongoing Services strategy to provide optionality for our clients," Shahmir Khaliq, head of services at Citi, said in the release. "We provide regulated, bank-grade solutions that remove significant hurdles for clients who want to engage in the digital economy."