Coinbase Teams Up with Moov for Stablecoin Payments at Main Street Banks
Coinbase has partnered with Moov to bring stablecoin payments to over 1,000 community banks and credit unions in the US. This partnership allows smaller financial institutions to offer stablecoin services through their existing payment systems without building separate digital-asset stacks.
The integration uses Coinbase's Developer Platform's Custodial Wallet accounts to hold customer funds and Moov's Payments API to manage stablecoin movement. This supports consumer payments, merchant acceptance, merchant settlement, payouts, and real-time funding.
M Kov co-founder and CEO Wade Arnold said that business customers of community institutions are already being asked to accept stablecoins, but 'today they go outside their institution to do it.' He added that merchants need acceptance and disbursement now, and the larger opportunity is 'funding that doesn't stop for weekends or holidays.'