Coinbase has partnered with payments platform Moov to bring stablecoin infrastructure to more than 1,000 US community banks and credit unions. The deal combines Coinbase's regulated crypto infrastructure with Moov's payments network to enable stablecoin acceptance, settlement and real-time funding. It arrives as both large banks and non-bank rivals race to build out their own stablecoin capabilities.
Coinbase partnered with Moov to bring stablecoin infrastructure to more than 1,000 community banks and credit unions that are part of Moov's customer base. The partnership combines Coinbase's regulated digital asset infrastructure with Moov's payments platform to offer stablecoin payment acceptance, settlement and real-time funding, according to a Thursday announcement.
What the infrastructure enables
The new infrastructure will support consumer stablecoin payments, merchant settlement and payouts. It will also give businesses and merchants access to Coinbase custodial accounts. Community banks in the US typically hold less than $10 billion in total assets and include state chartered institutions as well as savings and loan holding companies.
Larger banks are moving too
The announcement comes as some of the largest US banks experiment with stablecoin infrastructure. On Wednesday, U.S. Bank, the fifth-largest commercial bank in the US, completed a live cross-border payment using its proprietary USBDC stablecoin on the Stellar blockchain.
Earlier this month, 21 financial institutions announced plans to form a company to issue stablecoins, including a US dollar-denominated stablecoin in the first half of 2027. The group includes Bank of America, Citi, Goldman Sachs, Deutsche Bank and UBS.
Non-bank competitors are entering the space too. In August, Western Union partnered with stablecoin infrastructure provider Rain to launch a digital wallet and Visa-branded card that lets users hold and spend a US dollar-backed stablecoin.
Sources: Coinbase, Cointelegraph
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