Coinbase and Moov Partner to Bring Stablecoin Infrastructure to Community Banks
Coinbase and Moov have partnered to bring stablecoin infrastructure to over 1,000 community banks and credit unions.
Moov will embed Coinbase's stablecoin tools into its payment systems, allowing participating institutions to offer merchant payments and settlement without developing separate digital asset systems.
This move is part of a broader effort by Coinbase to connect digital assets with regulated financial services. The company has been expanding its partnerships in the banking sector, including a previous deal with Masspay that connected USDC settlement with 180 countries.
Despite concerns from some community banks over stablecoin deposit flight, Moov's co-founder and CEO Wade Arnold stated that this partnership will enable institutions to provide stablecoin services without requiring them to develop separate digital asset systems.