Coinbase Supports Local Banks in Providing Cryptocurrency Trading Services

Key Points of This Article

• Coinbase partners with Amarillo National Bank
• Potential partners exceed 3,000 banks

Cryptocurrency Infrastructure for Local Banks

On the 16th, Coinbase announced a partnership with Stable Core to provide cryptocurrency services to local banks and credit unions. The two companies have established a system that allows for the custody and trading of cryptocurrencies, as well as stablecoin payments, through existing banking systems.

Stable Core, which specializes in local banks and credit unions, offers a white-label service that integrates with existing core banking systems, with potential partners exceeding 3,000 banks and credit unions in the United States.

Coinbase provides a regulated cryptocurrency custody and trading infrastructure, while Stable Core is responsible for the integration and operation with the banking systems.

The partnership has already begun with local banks such as Amarillo National Bank in Texas, allowing local banks and credit unions to enter the cryptocurrency business without having their own infrastructure.

Banks Maintain Customer Relationships

Through this partnership, local banks and credit unions can offer cryptocurrency services while maintaining their own brand and conditions, thus preserving their relationships with customers in areas such as deposits and loans.

Alec Lavette, who oversees infrastructure business at Coinbase, stated that this partnership allows local banks and credit unions to achieve a balance between community engagement and the latest payment technologies. The two companies plan to further expand the range of local banks and credit unions involved in the future.

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