Marqeta and Coinbase expand collaboration on stablecoin-backed payment cards
Coinbase will provide custody, conversion and settlement infrastructure while Marqeta handles card issuance and processing for enterprise programs.
Marqeta and Coinbase announced an expanded collaboration on October 16 to help enterprise customers offer payment cards backed by stablecoin balances.
Under the arrangement, Coinbase would provide stablecoin custody, fiat conversion and settlement infrastructure, including settlement on its Base blockchain. Marqeta would provide card issuing, payment processing and relationships with banks and payment networks.
The proposed structure would let a cardholder spend against a digital-asset balance at merchants while the payment experience remains a conventional card transaction. The division of responsibilities matters because custody, conversion, fraud management, chargebacks and cardholder disclosures may sit with different participants in the program.
The companies have not disclosed a specific launch timeline, supported stablecoins or financial terms. The announcement describes an enterprise capability and collaboration, not a universally available consumer card.