Analysis The first major bank to partner with a crypto exchange for corporate stablecoin acceptance, Citi is wiring Coinbase Payments into Spring by Citi and offering 150 million stablecoin holders a path to the merchant checkout. On September 28, 2026, Citi and Coinbase announced an expanded collaboration to bridge traditional fiat and digital asset rails for corporate and consumer clients. The Wall Street Journal reported the partnership first; the details are structural, not cosmetic. First, Coinbase Virtual Accounts, powered by Citi’s Virtual Account Wallet under its Banking-as-a-Service infrastructure, convert incoming fiat intostablecoinsautomatically. 75% annual yield on those balances – a platform incentive, not a product of the stablecoin issuer, and explicitly not FDIC-insured.