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Crypto

Citi reveals stablecoin payment and fiat settlement structure linked to Coinbase

Citi has revealed a stablecoin payment and fiat-currency settlement structure linked to Coinbase. The system prioritises the U.S. market and is designed to allow institutional merchants to receive payments in fiat without holding digital assets. Even if a buyer pays in stablecoins, the seller ultimately receives fiat currency. Details released so far are limited, and plans to expand beyond the United States have not been specified.

Crypto

Coinbase, Deribit integrate institutional trading network; U.S. options to launch in fourth quarter

Crypto exchange Coinbase has integrated its international institutional derivatives trading system with Deribit, moving International Exchange institutional accounts into a Deribit-based environment and consolidating liquidity. Coinbase Bermuda Ltd will broker and custody institutional orders routed to Deribit, while access to Deribit’s direct platform remains restricted in the United States. For U.S. Coinbase Prime clients, options onboarding via Coinbase Financial Markets has opened, with trading scheduled to begin in the fourth quarter.

Crypto

Bitcoin spot ETFs see outflows of $729 million over two days

Bitcoin spot exchange-traded funds swung to large net outflows in the first week of October. Net withdrawals totalled $678.9 million from Oct. 5 to Oct. 9, reversing the prior week’s $241.1 million inflow. The pullback partly reversed September’s recovery, when $2.98 billion flowed in over seven sessions through Sept. 25. Outflows were concentrated on Oct. 7 and Oct. 8, totalling $729 million, led by products from BlackRock and Fidelity.