Coinbase Partners with Moov to Bring Stablecoins to 1,000 Community Banks

Coinbase has partnered with Moov to bring stablecoins to over 1,000 community banks and credit unions in the US. This move indicates that stablecoins can help smaller banks attract new customers.

The partnership between Coinbase and Moov will enable these financial institutions to accept stablecoins without building their own blockchains. Stablecoins are cryptocurrencies pegged to a stable fiat currency, such as the US dollar or euro.

Coinbase generates nearly a quarter of its revenue from reserve income tied to stablecoin reserves. The more stablecoins are minted and held, the more reserve income flows to Coinbase's coffers.