Coinbase said on Sept. 10 that it has entered a partnership with fintech company Moov to provide stablecoin infrastructure for small banks and community banks. Under the arrangement, more than 1,000 banks will be able to use their existing technology systems to receive stablecoins, handle settlement, and move funds in real time. Coinbase said the partnership is designed to help banks add stablecoin-related services on top of their current technology architecture rather than requiring a full rebuild of their systems. The company also said the move reflects the direction of development for regulated stablecoin infrastructure. The announcement focuses on banking access to stablecoin rails through existing operational setups and frames the partnership as an infrastructure rollout for regulated financial institutions.
Coinbase said on Sept. 10 that it has partnered with fintech company Moov to provide stablecoin infrastructure for small banks and community banks.
According to Coinbase, the partnership will allow more than 1,000 banks to use their existing technology systems to receive stablecoins, complete settlement, and move funds in real time.
Coinbase said the goal is to let banks connect to stablecoin-related services on top of their current technology architecture, and added that the partnership reflects the direction of development for regulated stablecoin infrastructure.
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