Coinbase partnered with Stablecore on Thursday, September 17 to bring digital asset services into U.S. banking systems.
The partnership covers crypto trading, custody, staking, and stablecoin payments for participating banks and credit unions.
Stablecore’s existing integrations reach technology systems used by more than 3,000 U.S. banks and credit unions.
However, none of the 3,000 institutions have signed agreements with Coinbase under this partnership.
Stablecore will connect Coinbase’s digital asset infrastructure with the banking systems used by participating financial institutions.
The integration will allow banks to add crypto services without replacing their existing banking platforms.
Coinbase said Amarillo National Bank in Texas already participates in the partnership. The companies have started connecting Coinbase’s infrastructure with the systems used by participating institutions.
Stablecore will connect Coinbase’s infrastructure with core banking, digital banking, and compliance systems.
The company will use its existing banking integrations to connect participating institutions with Coinbase’s digital asset services.
Each bank or credit union will decide which services it offers to customers. Coinbase and Stablecore have not said every institution within Stablecore’s network will adopt the services.
Banks Can Add Trading and Stablecoin Payments
Participating banks could allow customers to buy and sell digital assets through their existing banking experience.
Customers could also hold digital assets through custody services connected to their banking platforms.
Banks could provide staking services through the same banking channels. The partnership also supports stablecoin payments through participating institutions.
Coinbase will provide the custody and exchange infrastructure behind the digital asset services.
Stablecore will connect that infrastructure with each institution’s core banking and digital banking systems.
Stablecore will also connect the services to the compliance systems participating financial institutions already use.
This integration allows banks to add digital asset services without rebuilding their existing technology.
Customers could access crypto trading and other digital asset services through their banks’ existing channels.
Banks could therefore offer crypto products alongside their traditional financial services.
Each participating institution will determine which digital asset products it makes available to customers.
Coinbase has not said that every participating institution will offer trading, custody, staking and stablecoin payments.
Stablecore Connects Coinbase to Bank Systems
Stablecore will manage the connections between Coinbase’s digital asset infrastructure and participating banks’ technology systems.
Those connections will include core banking, digital banking and compliance platforms.
Coinbase will provide the infrastructure for custody and exchange services.
Stablecore will connect those capabilities with the existing technology stack at each institution.
Stablecore’s existing integrations reach technology systems used by more than 3,000 U.S. banks and credit unions.
Those integrations give participating institutions a way to connect their banking systems with Coinbase’s digital asset infrastructure.
The arrangement does not mean Coinbase has agreements with all 3,000 institutions.
Instead, participating banks can use the connection to add Coinbase-supported digital asset services to their banking platforms.
Amarillo National Bank in Texas is already working with Coinbase and Stablecore under the partnership.
The bank provides an early example of the companies connecting digital asset infrastructure with existing banking technology.
The partnership will allow other participating institutions to add supported services through their existing systems.
The announcement does not identify all institutions that will participate in the rollout.
