- Coinbase CEO Brian Armstrong said crypto and stablecoins will be the backbone of the new era of finance.
- Along the way, he hyped the newly forged partnership between Coinbase and Citi, which aims to streamline and upgrade payment solutions.
Coinbase CEO Brian Armstrong posted on X this Tuesday that cryptocurrencies and stablecoins are the next evolution of the global financial system. He also confidently claimed that the matter is no longer subject to debate, as digital assets are already encroaching on the territory that once exclusively belonged to traditional banks and financial institutions.
In line with his statement, Armstrong hyped Coinbase’s collaboration with Citi. He highlighted that the move aims to improve stablecoin utility and boost adoption.
Coinbase and Citi Partnership
On Tuesday, Coinbase and Citi jointly announced their partnership to pave the way for Citi clients to leverage digital assets and stablecoins to transmit value. It taps into the Coinbase infrastructure, which is used by over 100 million users worldwide, to streamline the banking giant’s payment solutions. To date, Citi’s global payments network covers 94 markets and over 300 payment clearing systems.
The revamped system will enhance on-ramps and off-ramps to facilitate the smooth conversion between fiat and digital assets, including stablecoins. The link between Coinbase and Citi also allows them to enhance their platforms to provide clients with faster, more reliable, and 24/7 access to their assets.
“This collaboration is part of our broader mission to make digital assets a trusted and integral part of the global economy,” said Coinbase. “By working with Citi and other major banks, asset managers, payment service providers, and other financial institutions, we’re building the infrastructure the global economy needs to adopt and scale digital asset solutions.”
Coinbase noted that its new initiative with Citi is still in the works. Additionally, significant developments may not come until the “coming months.” For now, it’s focused on building leading tools for the next generation of financial services.
Exponential Growth in Stablecoin Demand
The latest development comes hot on the heels of US President Donald Trump’s signing of the GENIUS Act. In its “Stablecoins 2030” report last month, Citi gave a positive outlook on the stablecoin industry due to the more favorable regulatory climate in the US for digital assets.
Moreover, the financial institution forecasted that the new regulatory landscape could result in a base case of $1.9 trillion in stablecoin issuance by 2030, with the bull case being $4.0 trillion. These were a considerable jump from its previous projections of $1.6 trillion (base case) to $3.7 trillion (bull case).
Furthermore, Citi pointed out that stablecoins could support nearly $100 trillion in transaction volume by the end of the decade, or up to double in a bull market setting.
