Coinbase expands partnership with Marqeta for stablecoin-backed cards

Coinbase is expanding its partnership with card-issuing platform Marqeta to power new stablecoin-backed cards for Marqeta’s global customers, the companies announced.

The collaboration will allow Marqeta’s clients, which include fintechs and banks, to offer their users cards that can be funded with USDC and other stablecoins held in a Coinbase account. This builds on the companies’ existing work, where Marqeta has powered Coinbase’s own debit card for U.S. customers since 2020.

The initiative aims to bridge digital assets with traditional payment networks, enabling more seamless spending of stablecoins for everyday purchases. Marqeta’s platform handles the complex card issuance and transaction processing, while Coinbase provides the crypto custody and on-ramp services.

This move represents a significant step in integrating cryptocurrency into mainstream financial infrastructure, targeting the growing demand for practical utility of stablecoins beyond trading and investment.