What to Know Marqeta and Coinbase expanded their partnership to enable businesses to offer stablecoin-funded payment cards accepted across millions of merchant locations. Coinbase will manage
Marqeta has expanded its six-year partnership with Coinbase to help businesses introduce payment cards linked to customers’ stablecoin balances. The agreement will allow cardholders to spend digital assets through established merchant networks without directly converting their holdings.
According to the announcement, Coinbase and Marqeta will combine stablecoin infrastructure with card issuing services, enabling businesses to fund payment programs around the clock.
Under the agreement announced Friday, Coinbase will manage stablecoin custody and conversions between digital assets and traditional currencies. Marqeta will handle card issuance and payment processing, allowing businesses to offer stablecoin-funded cards through existing payment networks.
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The expanded partnership targets Marqeta’s business customers across cryptocurrency and traditional financial markets, including companies exploring digital asset payment services. Cardholders will gain access to millions of merchants that accept payment cards, using their stablecoin holdings for purchases.
Significantly, the arrangement assigns separate responsibilities to both companies, combining digital asset management with established card processing capabilities. Coinbase will oversee custody and currency conversion, while Marqeta will manage card issuance and transaction processing.
Alec Lovett, Coinbase’s Head of Infrastructure Products, outlined the companies’ plans to combine stablecoin payment rails with existing card services. The collaboration aims to support real-time global transactions while meeting the payment requirements of businesses and consumers.
Additionally, businesses will be able to fund their card programs continuously, including outside conventional banking hours. This capability supports payment operations across different markets without requiring businesses to rely entirely on traditional funding schedules.
The agreement builds on a relationship established in October 2020, when Coinbase selected Marqeta to process its United States debit card. That program allowed eligible customers to spend cryptocurrencies, including USDC, while earning cryptocurrency rewards through card transactions.
The expanded arrangement extends their existing cooperation beyond Coinbase’s own card offering to Marqeta’s broader business customer base. It also introduces Base blockchain settlement infrastructure into the companies’ expanded stablecoin payment services.
The partnership expands access to stablecoin-funded card payments by combining Coinbase’s digital asset infrastructure with Marqeta’s established payment processing services.
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