Coinbase Brings Stablecoin Capabilities to Community Banks with Moov Partnership
Coinbase has partnered with payments infrastructure provider Moov to bring stablecoin capabilities to community banks and credit unions. This partnership allows financial institutions to add stablecoin acceptance, settlement, and real-time funding directly into their existing systems.
Moov connects over 1,000 community banks and credit unions across the country to card acquiring and issuing, as well as real-time payment rails. Coinbase's stablecoin payments infrastructure will be integrated into Moov's platform, giving financial institutions a path to add stablecoin capabilities without building a separate crypto technology stack.
The partnership supports various use cases, including consumer stablecoin payments, merchant acceptance, merchant settlement, and payouts. For business-related payments, Moov will also use Coinbase's fully disclosed custodial accounts for fund custody and the Payments API to orchestrate stablecoin movement.
Ryan VanGrack, Vice Chair and Head of Corporate Affairs at Coinbase, stated that community banks have seen their customers using digital assets for years. Through this partnership, Coinbase is delivering regulated infrastructure to offer these services directly within existing systems.