Citigroup and Coinbase have announced a strategic partnership to explore stablecoin payment solutions for Citi's institutional clients. The collaboration aims to enhance two-way conversion and cross-border settlement between crypto assets and fiat currencies, with a focus on on-chain stablecoin payments. This initiative responds to client demands for programmability, conditional payments, 24/7 speed, and cost efficiency. Coinbase, which supports over 250 financial institutions globally, will provide the necessary infrastructure for this venture. Citigroup has previously launched a blockchain-based tokenized deposit platform, and the stablecoin market is projected to surpass $1 trillion within five years.