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Coinbase (NASDAQ: COIN) has partnered with payments infrastructure provider Moov to offer stablecoin payment services to more than 1,000 community banks and credit unions in the United States.
The collaboration, announced on Thursday, allows these financial institutions to accept, settle, and fund stablecoin transactions through Moov's existing platform without developing proprietary crypto infrastructure.
Moov will integrate Coinbase's stablecoin technology using the Coinbase Developer Platform's custodial wallet accounts and Payments API.
This setup supports consumer stablecoin payments, merchant acceptance, merchant settlement, and payouts.
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