Coinbase Partners With Citi on Fiat-to-Stablecoin Payments, Wins CFTC Clearinghouse Approval
- —Coinbase Virtual Accounts run on Citi's Virtual Account Wallet, auto-converting incoming fiat into stablecoins
- —Spring by Citi merchants can accept stablecoin payments, tapping a market of over 150 million stablecoin holders
- —CFTC approved Coinbase Clearing for fully collateralised futures, options on futures and swaps
- —Margined derivatives and planned single-stock perpetuals will remain with outside clearing partners
Why it matters: USDC is cementing its role as both a settlement asset for payments and collateral for regulated derivatives, strengthening Coinbase's institutional infrastructure.
Source: Blockhead