X account: When I started Coinbase, getting a bank to work with us at all was nearly impossible. Now Citi is partnering with us to bring stablecoins to institutions. We’ve come a long way from 2012. Thank you @Citi.

AI-assisted interpretation

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Coinbase: If the partnership is implemented, Citi’s institutional channels and compliance capabilities could enhance Coinbase’s credibility and expansion opportunities in the institutional stablecoin business. Citi: Participation in institutional stablecoin infrastructure could strengthen Citi’s business positioning in digital assets and institutional payments.USDC: An institutional stablecoin partnership could expand the use cases for stablecoins among traditional financial institutions, but the original text does not identify a specific token. Concept explanation: Stablecoins generally aim to maintain the price of a reference asset; their reserves and redemption mechanisms determine their convertibility.