Coinbase and Moov Partner on Stablecoin Payments for Thousands of US Banks

Coinbase and Moov have formed a partnership to bring stablecoin payments and custody services to over 1,000 US community banks and credit unions.

The collaboration enables these financial institutions to leverage Moov's existing infrastructure, now enhanced with Coinbase services, without the need to build proprietary blockchain payment technology from scratch.

Coinbase will provide digital asset infrastructure, while Moov integrates these capabilities into the payment systems used by banks. This allows banks to add stablecoins to their existing product suites without becoming independent crypto operators.

The partnership utilizes Custodial Wallet accounts from Coinbase's Developer Platform for asset storage and the Payments API for orchestrating stablecoin movements, supporting various use cases including consumer payments, merchant acceptance, business settlements, and payouts.