Coinbase Expands Marqeta Partnership to Bring Stablecoin-Backed Payment Cards to Businesses

Coinbase has expanded its partnership with Nasdaq-listed Marqeta to introduce stablecoin-backed payment cards for businesses, allowing customers to spend digital assets through existing card networks while supporting round-the-clock funding services globally.

Ad

Ad

Coinbase and Marqeta Expand Stablecoin-Backed Card Services

Marqeta announced the expanded partnership on October 16, building on its existing card-issuing relationship with Coinbase. Through the agreement, enterprise customers will gain access to stablecoin-backed payment cards using Marqeta’s processing platform.

Under the deal, Coinbase will hold stablecoins and will serve as the counterparty to liquidate digital assets into traditional currencies. Meanwhile, Marqeta will be responsible for card issuance, payments, and bank and payment network relationships.

The service will help companies in the cryptocurrency sector and those in traditional business areas to launch digital asset payment services. As a result, cardholders will be able to spend stablecoin balances at millions of merchants worldwide.

According to Anthony Peculic, Marqeta’s chief strategy officer, the agreement represents a natural step in developing stablecoin-backed cards. He said Coinbase provides the infrastructure needed to support Marqeta’s enterprise customers.

Ad

Ad

Coinbase Uses Base Blockchain for Stablecoin Settlement

For settlement, Coinbase will use its Base blockchain to process transactions through the new payment infrastructure. The network will facilitate quick on-chain transactions at relatively low fees in turn.

This allows businesses to sustain their card programs on an ongoing basis and beyond regular banking hours. Coinbase will manage the transfer of digital assets and fiat conversions in purchases via its payment systems.

The agreement comes on the heels of Coinbase’s partnership with Citi to offer stablecoin payments to corporate customers. Moreover, that partnership integrates blockchain payment systems into traditional banking systems for digital asset and fiat transactions.

About the partnership, Coinbase’s head of infrastructure products Alec Lovett explained the payment capabilities of the two companies. He said the arrangement would support real-time transactions for businesses and consumers.

Marqeta Expands Digital Asset Payment Infrastructure

Before the latest announcement, Marqeta already provided card-issuing services for Coinbase through their existing business relationship. The company handled almost $400 billion in payment volume and served over 40 countries in 2025.

Coinbase also worked on its stablecoin business independently, launching its own Coinbase-backed OUSD stablecoin on a variety of blockchains. During September, the stablecoin became available on Ethereum, Solana, and Base.

However, neither company disclosed the financial terms of the expanded agreement or a specific launch date for enterprise customers. Similarly, Marqeta has not determined which stablecoins the new card programs will have the ability to accommodate.

For more derivatives trading choices, compare leading perpetual futures platforms to find competitive fees and trading features.