✓ Official source
Marqeta and Coinbase team up so businesses can issue cards that spend straight from stablecoin balances
Summary
Card-issuing platform Marqeta announced on Oct. 16 an expanded collaboration with Coinbase that will let its business customers offer payment cards funded by users’ stablecoin balances, according to Marqeta’s press release and The Block.
Coinbase will custody the stablecoin balances and handle conversion between digital assets and fiat, Coinbase’s Base blockchain will provide on-chain settlement, and Marqeta will issue the cards, process payments and manage the bank and card-network relationships, the release said.
Marqeta said businesses will be able to fund card programs 24/7 and cardholders will be able to spend from a stablecoin balance at millions of merchants that accept cards globally, with the offering aimed at both crypto-native and non-crypto firms.
The Block said the deal builds on a six-year relationship in which Marqeta has powered Coinbase’s U.S. debit card since October 2020, and noted the release did not specify fees, a rollout date or which stablecoins would be supported first.
Key facts
- Coinbase’s head of infrastructure products, Alec Lovett, said the collaboration will “combine our stablecoin payment rails with their powerful issuing and processing capabilities to deliver real-time global transactions.”
- Marqeta Chief Strategy Officer Anthony Peculic called expanding the Coinbase relationship “a natural next step” as Marqeta builds out “the complete stack for stablecoin-backed cards.”
- Marqeta already issues crypto-backed cards for Coinbase, and says it processed nearly $400 billion in payments volume in 2025 and is certified to operate in more than 40 countries.
- Coinbase named Marqeta as the processor for its U.S. debit card in October 2020; that card let customers spend crypto, including USDC.
- The release did not specify fees, a rollout date, or which stablecoins would initially be supported.