TLDR
- Coinbase (COIN) is expanding its six-year partnership with Marqeta to power stablecoin-backed cards for businesses.
- Coinbase will handle custody and currency conversion, while Marqeta manages card issuing and payment processing.
- Coinbase’s Base blockchain will provide the onchain settlement infrastructure.
- Businesses will be able to fund card programs 24/7, and cardholders can spend at millions of merchants.
- The release did not give fees, a rollout date, or the stablecoins that will be supported.
Coinbase (COIN) is expanding its partnership with Marqeta to power stablecoin-backed cards for businesses. The news came in a Friday release, which did not include a COIN stock price or price move.
Coinbase will hold the stablecoins. It will also handle conversions between digital and traditional currencies.
Marqeta will take care of card issuing and payment processing. It will also manage the bank and network relationships.
Base, Coinbase’s blockchain, will provide the onchain settlement. The companies describe it as fast, secure and low cost.
What Coinbase Will Handle
The service is aimed at Marqeta’s enterprise customers. That group includes both crypto-native firms and traditional companies.
Stablecoins are about to get more spendable.@coinbase and @marqeta are teaming up to bring stablecoin-backed cards to businesses. pic.twitter.com/r1KTikMjr3
— Coinbase Developer Platform🛡️ (@CoinbaseDev) October 16, 2026
Businesses will be able to fund card programs around the clock. Cardholders can spend from a stablecoin balance at millions of merchants that accept cards.
Alec Lovett, Head of Infrastructure Products at Coinbase, said the deal helps businesses move money with the speed and efficiency they need. He said it pairs Coinbase’s stablecoin payment rails with Marqeta’s issuing and processing.
Lovett said the goal is real-time global transactions. He pointed to the needs of both modern consumers and businesses.
Anthony Peculic, Chief Strategy Officer at Marqeta, called the expansion a natural next step. He said Coinbase brings scale and breadth of infrastructure.
A Partnership With History
The two companies have worked together before. Marqeta was named as the processor for Coinbase’s U.S. debit card in October 2020.
That card let customers spend crypto, including USDC. It also paid crypto rewards on purchases.
Marqeta already issues crypto-backed cards for Coinbase. The new deal widens that relationship to stablecoin-backed cards for other businesses.
Marqeta said it plans to deliver these cards through a network of partners. It pointed to rising demand for digital-asset-backed payments.
Some details are still missing. The release did not specify fees, a rollout date, or which stablecoins will be supported first.
Marqeta processed nearly $400 billion in annual payments volume in 2025. It is certified to operate in more than 40 countries.
The news was released on October 16, 2026, through Business Wire. Fees, timing and supported coins have yet to be announced.
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