According to CoinMeta, Citibank announced that it will provide this service for corporate customers. Coinbase will be responsible for the conversion process. Enterprises that process payments through Citibank will be able to accept stablecoins from their customers and settle in fiat currency. This feature is integrated into Citibank's Spring platform, supporting merchants in receiving payments and settling transactions. Citibank stated that this collaboration will enable merchants to reach over 150 million global users who hold stablecoins. Citibank's average daily transaction volume is approximately $6 trillion. Shahmir Khaliq, the head of Citibank's services department, said that this partnership with Coinbase is an important step in its ongoing service strategy. Coinbase has also chosen Citibank's virtual account wallet as the banking layer for its virtual accounts. The product will be launched first in the United States, but the specific launch date and pricing have not yet been announced.