Bitcoin (BTC) and virtual currency exchange Coinbase and major American bank Citi (a company to which Citibank Bank belongs) announced a partnership on Monday, October 27th. The partnership aims to develop solutions that enable Citi’s institutional customers to make payments and manage their finances globally using the Bitcoin digital currency.
According to a statement released by Coinbase, the partnership will integrate the exchange’s digital asset infrastructure with Citi’s global payments network, which operates in 94 markets. The purpose is to create Solutions that enable institutions operating at scale to integrate the use of digital currencies In financial operations.
The collaboration will focus on improving the systems that allow financial institutions to exchange funds between fiat currencies and digital assets, known as on-ramps and off-ramps. Additionally, we plan to explore payment solutions, including stablecoins and other infrastructure efforts, to make these tools faster and available 24/7.
This collaboration is The trend of integration of traditional finance and digital asset ecosystems increases. The companies indicated that this partnership aims to build the infrastructure needed for the global economy to adopt solutions based on Bitcoin and cryptocurrency technology. More information about the tools resulting from this collaboration will be shared in the coming months.
CriptoNoticias reported a few weeks ago that Citi plans to launch a Bitcoin storage service.