Citi and Coinbase Launch Live Stablecoin Payments and Yield Accounts

Citigroup and Coinbase moved their partnership into live infrastructure: business deposits are auto-converted to USDC earning 3.75% APY, while Citi's institutional clients can accept stablecoin payments settled in dollars. Both products launch first in the US on Coinbase's Base blockchain.

• Deposits convert to USDC and earn 3.75% annual yield paid by Coinbase
• Citi institutional clients accept USDC via Spring, settled in dollars
• Settlement runs on Base with ~200 ms blocks and sub-cent fees
• The CLARITY Act that would close the yield loophole failed 49-50 in the Senate