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Marqeta, Coinbase partner on stablecoin cards | The Paypers
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Marqeta and Coinbase partner on stablecoin-backed card payments
Marqeta has expanded its relationship with Coinbase to let enterprise customers issue stablecoin-backed payment cards.
US-based card issuing platform Marqeta is integrating with Coinbase’s stablecoin infrastructure so that its business customers can offer cards that convert stablecoin balances into everyday spending. The offering is aimed at both crypto-native companies and firms operating outside the digital asset sector. It builds on an existing arrangement under which Marqeta already issues crypto-backed cards for Coinbase.
How the roles are divided
The arrangement splits the card stack between the two companies. Coinbase will hold stablecoin balances in custody and manage conversion between digital assets and fiat currency. Settlement will take place on Base, the blockchain developed by Coinbase, which provides the on-chain layer for transactions. On the other side, Marqeta will handle card issuance and payment processing, and will manage the bank and card network relationships that underpin each programme.
As a result, under this model, businesses can issue stablecoin-backed cards and fund their programmes around the clock. Cardholders, in turn, will be able to spend directly from a stablecoin balance at the millions of merchants worldwide that accept card payments.
This division of responsibilities places custody, conversion, and on-chain settlement with the crypto infrastructure provider, while the card-side functions remain with the issuer processor. For Marqeta’s enterprise clients, the setup allows stablecoin functionality to be added to card programmes without having to build custody or conversion capabilities in-house.
Strategic context
Marqeta describes the move as part of its plan to deliver stablecoin-backed cards through a network of partners, citing accelerating demand for payments backed by digital assets. By integrating with Coinbase, the company aims to give customers a single platform for end-to-end payment products that span both fiat and digital asset markets.
Coinbase, which operates as a regulated cryptocurrency exchange, has extended its business beyond trading to build digital asset infrastructure accessible through a single regulated interface. This positions the company as a link between traditional and decentralised finance, a role that the collaboration with Marqeta extends into card payments.
Commenting on the collaboration, Anthony Peculic, Chief Strategy Officer at Marqeta, pointed to the scale and breadth of Coinbase’s infrastructure as a fit for the requirements of Marqeta’s enterprise customers. Peculic also noted that the partnership would widen the range of services businesses can deliver through Marqeta’s issuing and processing platform.
Keywords:partnershipstablecoindigital assetsdigital paymentsblockchain
Countries:World
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