Coinbase and Moov Partner to Bring Stablecoins to Community Banks

Coinbase and Moov have partnered to bring stablecoins to community banks in the US. The partnership will supply Coinbase's digital asset backbone, connected to payment networks used by financial institutions and their customers through Moov.

Moov already works with over 1,000 community banks across the country, integrating card acquiring and issuing as well as real-time payment rails.

Ryan VanGrack, Coinbase's vice chair, said 'community banks and credit unions have witnessed their customers use digital assets for years.' He added that through this partnership, Coinbase is delivering regulated infrastructure to offer these services directly within existing systems.

Wade Arnold, Moov's co-founder and CEO, noted that business customers of community institutions are already being asked to accept stablecoins. However, they currently go outside their institution to do so.