Read the latest update on Coinbase And Stablecore Open Digital Asset Rails To 3,000+ Banks And Credit Unions.

On September 15, Nasdaq (NASDAQ:NDAQ) said its Verafin unit had partnered with Stablecore to fuse traditional banking data with digital asset activity inside one financial crime detection platform. Th...

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Coinbase and Stablecore will let more than 3,000 US community banks and credit unions offer crypto custody, trading and stablecoin payments inside their existing platforms.

This partnership could accelerate crypto adoption in traditional finance, potentially influencing market dynamics and regulatory landscapes. The post Coinbase partners with Stablecore to integrate crypto in US community banks appeared first on Crypto Briefing.

Nasdaq Verafin and Stablecore today announced a partnership that unifies digital asset and traditional banking data to help financial institutions detect financial crime across fiat and digital asset activity. Stablecore provides the infrastructure banks and credit unions use to offer stablecoins, tokenized deposits, and other digital asset services inside their existing systems. The partnership brings digital asset transaction activity from Stablecore directly into the Nasdaq Verafin platform, giving banks and credit unions a consolidated view of financial crime risk exposure as they expand into digital asset services. With a more complete view of financial crime risk exposure, this partnership helps financial institutions meet customer demand for digital asset offerings while addressing evolving compliance requirements. Financial institutions have historically had limited visibility into on-chain financial activity, leaving a gap when financial crime spans fiat and digital asset channels. The partnership will help address this gap by integrating fiat-to-digital asset and digital asset-to-fiat transaction flows from Stablecore with existing customer data and compliance infrastructure in Nasdaq Verafin’s comprehensive anti-financial crime platform. Through this partnership, Stablecore houses digital asset holdings and transaction information without storing personally identifiable information, while the bank's core banking system retains customer and account data. Data from both sources flows into Nasdaq Verafin, where it is consolidated into a single customer profile for investigation and risk assessment. “Criminals increasingly move between on-chain and off-chain channels to obscure their activity and avoid detection,” said Rob Norris, SVP, Head of Product Strategy, Nasdaq Verafin. “By integrating Stablecore’s digital asset infrastructure with Nasdaq Verafin’s holistic financial crime management technology platform, we are giving financial institutions visibility into the full scope of their customers’ transactions, so that criminals cannot hide no matter where they move money.” The partnership comes as adoption of stablecoins, tokenized deposits and digital assets continues to grow among consumers and businesses. Today's global digital asset market represents approximately $2.4 trillion in value, more than double the range recorded in late 2022 to early 2023. By integrating stablecoin, tokenized deposit and digital asset transaction data from Stablecore into the Nasdaq Verafin platform, financial institutions can conduct investigations faster and monitor the flow of money on- and off-chain. “Digital assets become viable within banking when financial institutions can have the same very high standards around compliance and fraud detection as their existing products,” said Alex Treece, Co-founder and CEO, Stablecore. “Through this partnership, Stablecore provides the infrastructure for secure digital asset services while Nasdaq Verafin ensures that activity is monitored with the same rigor as traditional payments – a significant evolution in making digital assets a safe and secure option for banks, credit unions and their customers.” The integration is currently in beta with select customers, including Amarillo National Bank, with plans to roll out to mutual customers of Nasdaq Verafin and Stablecore in Q4 2026 and Q1 2027. Following the initial integration, Nasdaq Verafin and Stablecore will partner to offer real-time sanctions screening for counterparties receiving digital asset transfers. This capability will integrate directly into Nasdaq Verafin’s existing sanctions screening program, allowing financial institutions to build a robust BSA/AML compliance program that protects against digital assets sanctions risks. “Our customers want access to emerging payment methods, and we need to meet that demand without compromising safety,” said William Ware, President, Amarillo National Bank. “This partnership ensures our team maintains full visibility across traditional and digital assets activity, while allowing our team to seamlessly incorporate on-chain data into our investigations.” To learn more about the partnership, please visit https://verafin.com/partnerships/.

Reported Tuesday, Sep 15 - 9:13am EDT (TheFly subscription required to read more.)

A new pilot from Stablecore, Circuit and Curql gives participating US credit unions access to test stablecoin payments and other digital asset services.

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Stablecore has launched an early access stablecoin and digital asset program for U.S. credit unions, allowing participating institutions to test blockchain-based financial services before deciding whether to integrate them into their banking platforms. The program was announced on Wednesday through…