Coinbase to Link Stablecoin Payouts to Local Bank Accounts and Mobile Wallets via Thunes
Coinbase and Thunes team up on local payouts
Coinbase plans to connect its stablecoin infrastructure to local bank accounts and mobile wallets through a partnership with Thunes, a cross-border payments network. The companies announced the deal on Oct. 19.
A stablecoin is a digital token designed to keep a steady value, usually tied to a national currency such as the US dollar. A mobile wallet is an app that stores and moves money on a phone.
Under the agreement, Coinbase will integrate Thunes' Direct Global Network into its platform, according to Thunes' announcement. That gives Coinbase access to local clearing systems and alternative payment methods, while Thunes handles the final delivery of funds to bank accounts and mobile wallets.
How the two companies split the work
- Coinbase will supply stablecoin infrastructure to Thunes for use across Thunes' global network.
- Thunes will deliver funds to bank accounts and mobile wallets.
- Coinbase's developer platform said on X that "Thunes expands Coinbase's fiat payout reach."
What Thunes says about its network
Thunes says its wider network supports real-time payments in more than 140 countries and over 90 currencies. It says the network connects more than 12 billion mobile wallets, stablecoin wallets and bank accounts. Its payment methods include GCash and M-Pesa.
What is confirmed
The partnership was announced on Oct. 19. Coinbase will integrate Thunes' Direct Global Network, and Thunes will handle final delivery of funds to bank accounts and mobile wallets. Coinbase will provide stablecoin infrastructure to Thunes. Thunes describes its network as covering more than 140 countries, over 90 currencies, and more than 12 billion accounts and wallets.
What is still unclear
The announcements do not give a launch date and do not confirm whether customers can use the service yet. Thunes says Coinbase "will integrate" its network, without naming the supported stablecoins or blockchain networks. The partners also have not identified which countries or payout providers will be available first through the Coinbase integration.
How this fits with Coinbase's card push
The Thunes deal follows Coinbase's Oct. 16 announcement with Marqeta about plans for enterprise stablecoin-backed cards. In that arrangement, Coinbase will provide custody and fiat conversion, while Marqeta will handle card issuance and processing. The Thunes deal targets a different endpoint: delivery into local accounts and mobile wallets rather than spending through a card.
Why it matters
The partnership is aimed at moving stablecoin funds into everyday payment channels such as local bank accounts and mobile wallets, rather than keeping them only inside crypto platforms. Thunes says its network reaches local clearing systems and payment methods in many countries, which is the kind of reach Coinbase would need for payouts outside its own platform.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.