FILE PHOTO: FILE PHOTO: A representation of the cryptocurrency is seen in front of Coinbase logo in this illustration taken, March 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo
(Reuters) -Citigroup and cryptocurrency exchange Coinbase plan to collaborate on digital asset payment solutions for the U.S. bank's institutional clients, to expand the offering to global clients in the future.
The partnership will initially focus on enabling users to deposit and withdraw traditional currencies (commonly referred to as "fiat" in crypto) through Coinbase's services, marking a significant step as it allows smooth transitions between traditional money and digital assets like cryptocurrencies, the two companies said in a joint statement on Monday.
