Coinbase is partnering with financial services provider Moov to deliver stablecoin acceptance, settlement, and real-time funding to more than 1,000 community banks and credit unions across the United States. The deal, announced Thursday, combines Coinbase's regulated digital asset infrastructure with Moov's existing payment rails and systems, embedding stablecoin capabilities directly into the tech stacks community banks already use.
Under the partnership, Coinbase will supply the underlying digital asset infrastructure while Moov connects it to payment systems serving more than 1,000 community banks and credit unions. The supported use cases include consumer stablecoin payments, merchant settlement, payouts, and access to Coinbase custodial accounts for businesses. Coinbase stock slipped 0.88% on Thursday following the announcement.
The move comes just days before a key preliminary Senate vote on the Clarity Act, scheduled for next Tuesday. The bill would create a regulatory framework for cryptocurrencies and digital assets, but it has faced resistance from banking groups including the Independent Community Bankers of America over concerns that stablecoin yields could pull deposits away from community banks. The Coinbase-Moov partnership appears aimed directly at easing those concerns by giving community banks tools to compete in the stablecoin space.
Ryan VanGrack, vice chair and head of corporate affairs at Coinbase, said community banks and credit unions have watched their customers use digital assets for years, and the partnership provides the regulated infrastructure to offer those services directly. Moov co-founder and CEO Wade Arnold said business customers are already being asked to accept stablecoins, but today they go outside their primary institution to do it. The goal, he said, is to make the answer come from their primary financial institution instead.
The announcement lands during a busy period for stablecoin news. On Wednesday, U.S. Bank completed a live cross-border payment using its own USBDC stablecoin on the Stellar blockchain. Earlier this month, 21 financial institutions including Bank of America, Citi, and Goldman Sachs announced plans to form a company to issue stablecoins, with a U.S. dollar-denominated stablecoin expected in the first half of 2027. Western Union also partnered with stablecoin provider Rain in August to launch a digital wallet and Visa-branded card.
The Clarity Act needs at least 60 Senate votes to advance. Democrats have raised concerns about ethics language in the bill, while some Republicans remain worried about the impact on community banks.
