Coinbase Teams with Moov to Bring Stablecoins to US Community Banks

Coinbase has partnered with financial services provider Moov to bring stablecoin acceptance, settlement, and real-time funding to over 1,000 community banks and credit unions across the United States.

The partnership combines Coinbase's digital asset infrastructure with Moov's existing payment rails and systems. This deal could help bridge the gap between the crypto industry and community banking institutions, addressing concerns about stablecoin yields causing deposit flight.

Coinbase Vice Chair Ryan VanGrack said that community banks and credit unions have watched their customers use digital assets for years, and this partnership gives those institutions the regulated infrastructure to offer those services directly. The new capabilities will support use cases including consumer stablecoin payments, merchant settlement, payouts, and access to Coinbase custodial accounts for businesses.