Coinbase and Marqeta Expand Partnership to Offer Enterprise Stablecoin Cards
Coinbase and Marqeta Team Up on Stablecoin Payment Cards
Coinbase and Marqeta announced plans on October 16 to let Marqeta's enterprise customers issue stablecoin-backed payment cards. The deal expands a partnership that already supports Coinbase's own crypto-backed cards.
The collaboration targets both crypto-native and non-crypto businesses. Companies would be able to fund their card programs around the clock, while cardholders could spend from stablecoin balances at merchants that accept cards globally. A stablecoin is a type of cryptocurrency designed to hold a steady value, usually tied to the U.S. dollar.
Key Details of the Partnership
- Coinbase will hold the stablecoin balances and manage conversion between digital assets and fiat currency.
- Base, Coinbase's blockchain network, will provide the onchain settlement infrastructure.
- Marqeta will handle card issuance, payment processing, and bank and network relationships.
What the Announcement Leaves Unanswered
The announcement describes a planned collaboration but gives no launch date or list of eligible markets. It also does not identify which stablecoins will be supported or whether Base will be the exclusive settlement network.
More Than Just Coinbase's Own Card
Marqeta already provided issuing technology for the U.S. Coinbase Card. When that card launched, Marqeta's just-in-time funding technology let Coinbase sell a user's cryptocurrency to cover a purchase's dollar value in real time. This new expansion takes the relationship beyond Coinbase's own card to programs offered by Marqeta's enterprise clients.
Marqeta is also building out a broader stablecoin-card strategy. On September 9, it announced a partnership with BVNK to bring stablecoin-backed card capabilities to companies. Under that arrangement, BVNK supplies stablecoin infrastructure while Marqeta manages card issuance and bank relationships. Marqeta is also among the first planned integrators of BVNK and Mastercard's Global Money Platform.
Why This Matters for Crypto Payments
The move signals that major fintech and crypto companies are working to make it easier for everyday businesses to offer payment cards backed by stablecoins. If the platform launches, it would give companies a way to let customers spend digital dollars without waiting for traditional banking hours.
What Comes Next
No launch timeline, supported stablecoins, or eligible markets have been disclosed. More details are expected as the partnership moves toward a live product.
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.