Coinbase, Moov Bring Stablecoin Payments to Over 1,000 US Community Banks

Major crypto exchange Coinbase (NASDAQ: $COIN) is partnering with payments infrastructure provider Moov to bring stablecoin payment services to more than 1,000 community banks and credit unions across the United States.

The partnership will allow financial institutions to offer stablecoin acceptance, settlement and real-time funding through Moov’s existing payments platform, without having to build their own crypto infrastructure, Coinbase said in a Thursday announcement. 

Moov will integrate Coinbase’s stablecoin technology into its platform using Coinbase Developer Platform’s custodial wallet accounts and Payments API. The setup will support consumer stablecoin payments, merchant acceptance, merchant settlement, and payouts.

For business and merchant transactions, Moov will also use Coinbase’s custodial accounts to handle digital asset funds.

“Modern tech should meet local institutions where they are, giving them the tools to compete with the largest players while preserving what makes them trusted pillars of their communities,” Ryan VanGrack, vice chair and head of corporate affairs at Coinbase, said. 

The move comes as stablecoins gain a larger role in payments and financial services, potentially putting pressure on smaller financial institutions to offer digital asset services without taking on the cost and complexity of building the technology themselves.

Earlier this month, a consortium of 21 major global financial institutions, including Goldman Sachs (BKK: $GSUS06), Bank of America (NYSE: $BAC), Citi (NYSE: $C) and Deutsche Bank (ETR: $DBK), announced plans to launch a regulated, dollar-denominated stablecoin venture in the first half of 2027. 

Yesterday, U.S. Bancorp (NYSE: $USB) also revealed that it is preparing to launch USBDC, a dollar-pegged stablecoin, after completing a live cross-border payment between the U.S. and Europe. 

Citizens Bank of Edmond CEO Jill Castilla said small businesses are increasingly looking for ways to reduce payment costs and receive funds faster.

The total stablecoin supply currently stands at approximately $305 billion, according to data from DefiLlama.