Citigroup has partnered with Coinbase to offer digital asset payments to its institutional clients, starting with dollar-crypto conversions and payment orchestration. The bank has operated its own internal blockchain since 2023 and is not ruling out issuing a Citi stablecoin. The Citi Institute projects stablecoin market capitalization at 1.6 trillion dollars by 2030 in its base case and 3.7 trillion dollars in its upside scenario. The GENIUS Act, passed in July 2025, provided a federal framework for these tokens. JPMorgan has already launched its deposit token JPMD in June 2025 on Base, the layer 2 developed by Coinbase.
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