Coinbase Partners With Moov to Bring Stablecoin Payments to Community Banks
Coinbase and Moov have formed a partnership to bring stablecoin payment capabilities to over 1,000 community banks and credit unions. The move combines Coinbase's regulated digital asset infrastructure with Moov's existing payment platform, allowing smaller financial institutions to offer stablecoin services without developing their own technology stacks.
The partnership will enable these banks and credit unions to connect with card acquiring and issuing systems as well as real-time payment rails through Moov's payments infrastructure. Coinbase's stablecoin infrastructure will be integrated directly into this existing platform, using Custodial Wallet accounts for fund custody and the Payments API to orchestrate stablecoin transfers.
The supported use cases include consumer stablecoin payments, merchant acceptance, settlement, and payouts. The companies are initially focusing on acceptance, settlement, and real-time funding, but see opportunities to connect digital assets with additional financial products offered by community institutions in the future.