Key facts
- Coinbase and Marqeta expanded their partnership to offer stablecoin-backed payment cards for businesses.
- The cards will allow customers to spend digital assets through existing card networks.
- Coinbase will hold stablecoins and liquidate them into traditional currencies for purchases.
- Marqeta will manage card issuance, payments, and bank and payment network relationships.
- Coinbase will use its Base blockchain for settlement of transactions.
- The agreement aims to support real-time transactions for businesses and consumers.
Coinbase and Marqeta have expanded their partnership to introduce stablecoin-backed payment cards for businesses globally. This new service will allow customers to spend digital assets through existing card networks, with Coinbase managing the liquidation of stablecoins into traditional currencies and Marqeta handling card issuance and payment processing. The companies aim to support real-time transactions for businesses and consumers, enabling companies to launch digital asset payment services and cardholders to spend stablecoin balances at millions of merchants worldwide. Coinbase will utilize its Base blockchain for transaction settlement, facilitating quick on-chain transactions at low fees. This move follows Coinbase's recent partnership with Citi to offer stablecoin payments to corporate clients.