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ZEC $1,141 Coinbase and Marqeta expand stablecoin-backed card deal for businesses
The partners will let companies issue cards backed by stablecoin balances, with Coinbase handling custody and settlement and Marqeta issuing cards.
Key takeaways
- No launch date yet. Neither company has announced launch dates for the business card programs.
- Marqeta's 2025 reach. Marqeta handled almost $400 billion in payment volume and served over 40 countries in 2025.
- Terms stay private. Neither company disclosed the financial terms of the expanded agreement.
What happened
Coinbase has expanded its partnership with Nasdaq-listed Marqeta to offer stablecoin-backed payment cards for businesses. Marqeta announced the expanded partnership on October 16, building on an existing card-issuing relationship with Coinbase.
Under the deal, Coinbase will hold stablecoins and act as the counterparty that liquidates digital assets into traditional currencies. Marqeta will handle card issuance, payments, and bank and payment network relationships.
Coinbase will use its Base blockchain to process transactions through the new payment infrastructure. The companies said the setup supports round-the-clock funding for card programs, and cardholders can spend stablecoin balances at merchants worldwide.
Marqeta's chief strategy officer, Anthony Peculic, described the agreement as a natural step in developing stablecoin-backed cards. Coinbase's head of infrastructure products, Alec Lovett, said the arrangement would support real-time transactions for businesses and consumers.
Why it matters
The arrangement aims to let businesses connect digital-dollar balances to conventional merchant payment networks, so customers can use stablecoins in ordinary card transactions without every merchant accepting crypto directly.
Marqeta brings card issuing technology and access to established payment infrastructure, while Coinbase contributes custody, stablecoin conversion and settlement services. The model keeps the blockchain part behind a familiar payment interface.
The announcement covers technology that other businesses can use to build their own programs. It is not the immediate launch of a finished card for all consumers.
The deal follows Coinbase's partnership with Citi to offer stablecoin payments to corporate customers.
What is still unclear
- Neither company has announced launch dates for the business card programs.
- Neither company disclosed the financial terms of the expanded agreement.
- Marqeta has not determined which stablecoins the new card programs will accommodate.
Questions readers ask
What are stablecoin-backed payment cards from Coinbase and Marqeta?
They are cards for business programs that draw on stablecoin balances. Coinbase holds the stablecoins and converts them to fiat, Base handles settlement, and Marqeta issues the cards and manages payment network relationships.
When will the Coinbase and Marqeta stablecoin cards launch?
No launch date has been announced. The companies also have not disclosed the financial terms of the expanded agreement.
Which stablecoins will the new card programs support?
Marqeta has not determined which stablecoins the new card programs will be able to accommodate.
How large is Marqeta's card business?
Marqeta handled almost $400 billion in payment volume and served over 40 countries in 2025.
