Coinbase Partners with Moov to Bring Stablecoin Services to US Community Banks
Coinbase and Moov have partnered to bring stablecoin services to over 1,000 community banks and credit unions in the US. The integration will allow financial institutions to offer stablecoin payment acceptance, settlement, and real-time funding without building separate digital asset systems.
Moov will integrate Coinbase's stablecoin payment infrastructure into its existing platform, using Custodial Wallet accounts from the Coinbase Developer Platform for fund storage and the Payments API to manage stablecoin movement. The planned services include consumer stablecoin payments, merchant payment acceptance, merchant settlement, and fund disbursement.
Coinbase Vice Chair and Head of Corporate Affairs Ryan VanGrack stated that community banks and credit unions have seen their customers use digital assets for years. 'Through the partnership with Moov, Coinbase is bringing the regulated infrastructure they need to offer these services directly, embedded within the systems they already use,' said VanGrack.