Marqeta and Coinbase have expanded their collaboration so businesses can offer stablecoin-backed payment cards. Coinbase handles custody and conversion, Base settles transactions on-chain, and Marqeta issues the cards. The setup targets enterprise programmes, and no launch timetable has been disclosed.
Marqeta and Coinbase expanded their collaboration on October 16, 2026 to let crypto-native and traditional businesses offer stablecoin-backed payment cards. The arrangement is intended for enterprise card programmes, not the immediate launch of a single consumer card.
Three companies, three roles
Coinbase will custody stablecoin balances and manage conversion between digital assets and fiat, while Base will provide the on-chain settlement layer, Marqeta said. Under the stablecoin structure, the custody and conversion pieces matter because card payments must run through infrastructure built around fiat transactions, even when a customer holds a balance in a digital asset.
Marqeta, for its part, will provide card issuance and payment processing, and manage relationships with banks and card networks. Its enterprise customers will be able to fund card programmes around the clock and let cardholders spend with merchants that accept cards globally.
Building on a six-year relationship
The collaboration extends a six-year relationship between the companies. Marqeta previously served as processor for Coinbase's U.S. debit-card offering, which was first announced in October 2020, The Block reported.
However, the new announcement describes a capability Marqeta can offer enterprise customers, not simply an update to Coinbase's own debit card. The partners are positioning it as infrastructure for other businesses.
What remains undisclosed
No supported stablecoins, financial terms or specific launch timetable have been disclosed, according to Investing.com. The announcement also does not identify the banks or card networks involved, or the countries where individual enterprise customers could offer cards.
Source: Crypto Daily
Trading involves risk.
Risk Disclaimer
