Coinbase Partners With Citi, Apollo For Stablecoin Payments And Credit Services

Coinbase has announced several partnerships including Citi and Apollo for digital asset and stablecoin integrations.

The U.S. based exchange and one of the most popular platforms for enabling the trade of global crypto services has revealed strategic alliances with leaders across traditional banking and asset management sectors, including Citi and Apollo.

Coinbase has named Citi as its partner, focusing on creating more efficient transfer services and conversions between crypto assets and fiat currencies across 94 markets. Although many details aren't included, the collaboration will become vital in transforming older treasury and clearing systems. More than a month ago, Citi had also disclosed the pilot of 24/7 Citi Token Services, utilising blockhain for international settlement.

Coinbase Asset Management has declared that it is partnering with Apollo to integrate stablecoin lending and credit opportunities, with collateral management of other digital assets and the tokenization of credit process also mentioned as part of bigger plans. Apollo offers both private credit (with $690B AUM) and private equity ($150B AUM). For more than a decade, the private credit landscape is expanding and gaining investor traction.