Coinbase, Moov offer stablecoin tools to community banks

Coinbase and Moov announced a partnership to provide community banks and credit unions tools to accept, settle and fund stablecoin payments. The announcement came days before a preliminary Senate vote on the CLARITY Act, scheduled for Sept. 15.

Under the agreement, Moov will integrate its payments technology into participating banks’ existing systems while Coinbase will supply the regulated stablecoin payments infrastructure. The service is meant to allow business customers to accept stablecoins through their primary financial institutions rather than using outside providers.

According to the companies, the setup enables faster settlement and continuous funding that does not pause on weekends or holidays because the payment rails operate continuously. Merchants and business clients will be able to accept and disburse stablecoins within accounts held at community banks and credit unions.

Moov will connect payment capabilities to the banks and credit unions, and Coinbase will run the underlying rails and custody-related functions. The announcement coincided with lawmakers’ consideration of a federal framework for digital assets.

The CLARITY Act would establish federal rules for digital assets and includes provisions on stablecoin oversight and yield limits. The Senate is set to hold a preliminary vote on Sept. 15; proponents will need a two-thirds majority to advance the measure.

Industry participants have reported that community banks and credit unions faced customer demand for digital asset services for several years, and some business clients currently use external providers for stablecoin transactions. Embedded capabilities are intended to let local institutions retain those customer relationships and process payments and settlements through their own accounts.

Adoption by individual banks will depend on each institution’s risk policies, compliance resources and how regulators classify stablecoins under any new federal rules. The partnership does not change the legislative process that will determine the broader regulatory environment for stablecoins and other digital assets.

Wade Arnold, Moov co-founder and CEO, noted: “Business customers of community institutions are already being asked to accept stablecoins, and today they go outside their institution to do it. We built this so the answer comes from their primary FI instead. Merchants need acceptance and disbursement now. What comes next is bigger: funding that doesn’t stop for weekends or holidays, because the rail doesn’t close. Institutions that add this now will be positioned for both.”

Ryan VanGrack, Coinbase vice chair and head of corporate affairs, added: “Community banks and credit unions have witnessed their customers use digital assets for years. Through our partnership with Moov, Coinbase is delivering the regulated infrastructure they need to offer these services directly embedded right into their existing systems. 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.”