Coinbase and Moov Open Stablecoin Access to More Than 1,000 Community Banks Days Before Senate's CLARITY Act Vote
Coinbase and Moov Open Stablecoin Access to More Than 1,000 Community Banks Days Before Senate’s CLARITY Act Vote #
Coinbase and payments infrastructure provider Moov have announced a partnership to extend stablecoin acceptance, settlement, and real-time funding capabilities to the more than 1,000 community banks and credit unions that already operate on Moov’s platform, with the announcement coming days ahead of a procedural Senate vote on the Digital Asset Market Clarity Act.
Under the arrangement, Coinbase will supply compliant digital-asset infrastructure while Moov acts as the integration layer, connecting stablecoin functionality to the payment rails and technology stacks those institutions currently use. Community banks will not need to build separate crypto systems from scratch. Services covered include stablecoin acceptance, merchant settlement, and real-time funding, though the two companies have not disclosed which institutions will go live first, which specific stablecoins will be supported, or a firm rollout timeline.
Wade Arnold, Moov’s co-founder and chief executive, said business customers are increasingly being asked by their clients to accept stablecoins but are presently forced to look outside their primary financial institution to do so. The goal of the partnership, he explained, is to allow a bank to fill that role directly. Moov’s network already provides card acquiring, card issuance, and instant-payment infrastructure to those lenders.
A preliminary Senate cloture vote on the CLARITY Act is scheduled for September 15, days after the announcement. The bill cleared the Senate Banking Committee in May and passed the House in July 2025, aiming to establish a comprehensive federal regulatory framework for digital assets. The cryptocurrency industry, including Coinbase, has backed the bill.
Community banking groups have been among the loudest critics of the legislation. The Independent Community Bankers of America has warned that yield-bearing stablecoin accounts could draw deposits away from smaller institutions. By positioning community banks as active distributors of stablecoin services rather than bystanders, the partnership could reduce that source of opposition to the bill. Democrats have separately raised objections over ethics provisions in the legislation, including how to enforce a proposed ban on government officials running crypto businesses.
Coinbase’s vice chair and head of corporate affairs, Ryan VanGrack, said community banks and credit unions have watched customers use digital assets for years and now require regulated infrastructure embedded directly into their existing systems. Shares of Coinbase slipped modestly on the day of the announcement.
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