Coinbase Partners with Moov to Provide Community Bank Stablecoin Infrastructure

Coinbase has partnered with financial platform Moov to provide stablecoin infrastructure for over 1,000 community banks and credit unions within Moov's customer base. The collaboration will combine Coinbase's regulated digital asset infrastructure with Moov's payment platform to offer stablecoin payment acceptance, settlement, and real-time funding services. This infrastructure will support use cases such as consumer stablecoin payments, merchant settlements, and payments, while providing businesses and merchants access to Coinbase's custodial accounts. Community banks in the U.S. typically have total assets of less than $10 billion, including state-chartered institutions and savings and loan holding companies. This partnership comes as major U.S. banks are experimenting with stablecoin infrastructure. U.S. Bank, the fifth-largest commercial bank in the U.S., completed a real-time cross-border payment using its proprietary stablecoin USBDC on the Stellar blockchain. Earlier this month, 21 financial institutions announced plans to form a company to issue stablecoins.

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