According to CoinMeta, Citibank has announced a partnership with Coinbase, allowing its customers to make payments using stablecoins when settling accounts, without the need to directly deal with cryptocurrencies. Stablecoins are digital tokens pegged to the US dollar. This new agreement was reached two weeks after an important crypto-related bill failed in Washington. Customers can use stablecoins to pay other Citibank customers; Coinbase will convert these payments into US dollars, and Citibank will settle them just like it processes other bank transfers. Citibank stated that this move will lead to the immediate acceptance of stablecoins within its banking system, marking a step forward for stablecoins to become a part of everyday currency.