Coinbase and Moov partner to deploy stablecoin infrastructure at 1,000 US community banks
Coinbase has agreed with Moov to provide stablecoin settlement and payment tools for over 1,000 US community banks and credit unions.
Cryptocurrency exchange Coinbase announced a partnership with financial platform Moov on Thursday to deploy stablecoin infrastructure for more than 1,000 US community banks and credit unions. This collaboration will integrate Coinbase's regulated digital asset systems with Moov's payment network to enable consumer payments, merchant settlements, and real-time funding. The program allows businesses to access Coinbase custodial accounts.
US community banks typically hold fewer than $10 billion in total assets, including state-chartered institutions and savings and loan holding companies. This initiative follows recent developments by major US commercial banks. On Wednesday, U.S. Bank completed a live cross-border payment using its proprietary USBDC stablecoin on the Stellar blockchain.
Earlier this month, 21 financial institutions, including Bank of America, Citi, Goldman Sachs, Deutsche Bank, and UBS, announced plans to establish a company intended to issue US dollar-denominated stablecoins by the first half of 2027. Non-bank competitors are also expanding into this sector. In August, Western Union partnered with Rain to launch a digital wallet and Visa-branded card.
