The companies are extending their existing card partnership to Marqeta’s enterprise customers. Cardholders will be able to spend stablecoin balances at merchants that accept cards.
Marqeta said in its October 16 announcement that it would expand its partnership with Coinbase to support cards funded by stablecoins. The service will target Marqeta’s enterprise customers, including companies both inside and outside the crypto industry.
Coinbase handles custody; Marqeta runs card processing
Coinbase will provide custody for the stablecoin balances and manage conversion between digital assets and fiat money. Marqeta will provide card issuance and payment processing, along with bank and card-network relationships. Base, the blockchain developed by Coinbase, will supply the onchain settlement infrastructure.
Businesses will be able to fund their card programs 24/7. Cardholders will be able to spend their balances at millions of card-accepting merchants worldwide. Conversion between the stablecoin balance and the traditional card payment system will happen behind the scenes; the announcement does not require shops to accept crypto directly.
Country availability and fees remain undisclosed
The announcement does not name a launch date, initial business customers, supported stablecoins or a fee schedule. It describes Base settlement as fast and low-cost but gives no numerical transaction-time or fee guarantee.
Card acceptance is not card availability: A global merchant network does not mean the cards are open to users in every country. No availability in Türkiye was announced.
Marqeta previously supported the US launch of Coinbase Card. Its earlier product announcement described converting crypto into dollars for purchases and ATM withdrawals. The new agreement would let Marqeta’s customers fund their own card programs with stablecoin balances.
Coinbase Developer Platform’s October 16 partnership announcement
The post loads from X when you open it.
