Coinbase Partners Moov to Bring Stablecoin Infrastructure to Banks

Coinbase, a top crypto exchange, has partnered with payments infrastructure provider Moov. With this partnership, the aim of Coinbase is to help more than 1,000 community banks and credit unions offer stablecoin payment services. Coinbase announced this collaboration via its official blog and X account. The collaboration aims to integrate stablecoin acceptance, settlement, and real-time funding into the existing technology systems used by financial institutions.

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Coinbase and Moov Integrate Stablecoin Payment Infrastructure

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Under the partnership, Coinbase will provide regulated digital asset infrastructure through its Coinbase Developer Platform, including custodial wallets and its Payments API. Moov will integrate these capabilities into its existing payments platform. Moov connects community financial institutions with card networks and real-time payment rails.

The partnership will allow participating banks and credit unions to support several stablecoin-related use cases. This will remove the need for developing a separate crypto infrastructure stack. The model is designed to keep banks and credit unions at the center of customer relationships.

Community Banks Gain Access to Crypto Infrastructure

Coinbase Head of Corporate Affairs Ryan VanGrack said community banks and credit unions have seen their customers use digital assets for years. He added that the partnership with Moov will provide regulated infrastructure that allows these institutions to offer stablecoin services directly through their existing systems.

Moov Co-Founder and CEO Wade Arnold said business customers of community financial institutions are increasingly being asked to accept stablecoins. However, these businesses often have to use external providers because their primary financial institutions do not currently offer the required infrastructure. The partnership will now allow banks and credit unions to provide those services themselves.

The collaboration comes as stablecoins gain a larger role in payments and digital finance. The approach will allow community banks and credit unions to retain their existing customer relationships and deposits while expanding their digital asset offerings.

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