Coinbase and Marqeta expand partnership to let businesses issue stablecoin-backed payment cards

Coinbase and Marqeta expand partnership to let businesses issue stablecoin-backed payment cards

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News Editor
2026-10-18 06:40:57
Marqeta and Coinbase have expanded a six-year partnership to offer stablecoin-backed payment cards for business customers. Under the arrangement, Coinbase will handle custody of stablecoins as well as crypto-to-fiat and fiat-to-crypto conversion, while Marqeta will manage card issuing and payment processing. On-chain settlement will run through Base, Coinbase’s layer-2 network. The companies said business clients will be able to fund card programs around the clock, and cardholders will be able to spend at millions of merchants that accept card payments. The service is aimed at Marqeta’s enterprise customers, including both crypto-native firms and traditional businesses. Marqeta previously supported backend processing for the Coinbase Visa debit card launched in the U.S. in 2020, making the new announcement an extension of an existing relationship rather than a first-time tie-up. Several details remain undisclosed, including pricing, a launch date, and which stablecoins will be supported at rollout. Those unanswered points are likely to matter for enterprise adoption as the companies push stablecoins deeper into everyday payment infrastructure.

Payments technology company Marqeta and crypto exchange Coinbase said they are expanding a six-year partnership to let business customers issue stablecoin-backed payment cards. Under the new setup, Coinbase will provide custody for stablecoins and handle digital asset and fiat conversion, while Marqeta will take care of card issuing and payment processing. Base, Coinbase’s layer-2 network, will serve as the on-chain settlement infrastructure.

Marqeta announced the move on Friday. The two companies have worked together before: when Coinbase launched its U.S. Visa debit card in 2020, Marqeta handled the backend processing.

Coinbase handles funds, Marqeta handles cards

According to an official BusinessWire release, Coinbase will be responsible for stablecoin custody and conversion between digital assets and fiat currencies. Marqeta will oversee issuing and payment processing. Business customers will be able to fund their card programs 24/7, with settlement on Base.

Alec Lovett, head of infrastructure products at Coinbase, said the partnership combines stablecoin payment rails with Marqeta’s issuing and processing capabilities to support instant global transactions for modern consumers and businesses.

Targeting enterprise clients across crypto and traditional sectors

The service is aimed at Marqeta’s business customers, including crypto companies and traditional enterprises. According to the announcement, cardholders will be able to spend stablecoins at millions of merchants that accept card payments, while businesses will get around-the-clock treasury scheduling capabilities.

The release did not disclose pricing, a formal launch date, or which stablecoins will be supported first, whether USDC, USDT, DAI, or others.

Business model questions remain open

The partnership adds another major entrant to the stablecoin card market. Compared with products such as Ether.Fi and the Binance Card, which are more retail-focused, Marqeta’s B2B2C model allows enterprises to design their own card programs and then distribute them to end users. That structure is closer to the traditional issuing channels used by Visa and Mastercard.

For now, the public details focus on the operating framework and division of responsibilities. Key items such as fees, rollout timing, and supported assets have not been disclosed, and those details are likely to shape enterprise adoption.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.
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