Morning Minute: Citi and Coinbase Just Made Stablecoins Invisible

GM!

Today’s top news:

• Crypto majors rebound 1-2% as oil and yields fall; BTC at $84.4k
• Citi and Coinbase partner to enable stablecoins for Citi business clients
• Strategy buys $147M of BTC, fully rebuys the BTC it sold lower
• NEAR Intents says it turned away $50M in funds from Bitget hack
• Coinbase teases new gacha product, CARDS jumps 25% on speculation of integration

$87.2k$85.7k$84.2k$82.7k

24h HighHigh$84,275

24h LowLow$82,721

VolVol$1.3B

Market projectionsOdds by Myriad

🏦 Citi and Coinbase Just Made Stablecoins Invisible

Big companies that bank with Citi can now let their customers pay in stablecoins. The company never holds a token, never opens a crypto account, and never sees a wallet address. Coinbase turns the stablecoins into dollars behind the scenes, and Citi deposits the money like any other payment.

That’s the whole product, and the point is what’s missing from it. There’s no crypto part for the business to learn.

It works both ways. Companies building on Coinbase can now open accounts that behave like bank accounts, powered by Citi’s banking software. Dollars that come in get turned into stablecoins automatically.

Citi’s customers get paid in stablecoins and receive dollars. Coinbase’s customers get paid in dollars and receive stablecoins. Whoever you bank with, the money arrives in the form you already use, and the conversion happens where you can’t see it.