Marqeta Partners with Coinbase to Launch Stablecoin Payment Card Service

Marqeta has partnered with Coinbase to provide a payment card service that allows both crypto and non-crypto businesses to pay using stablecoin balances. Coinbase is responsible for the custody of stablecoin balances and the conversion between digital assets and fiat currencies, while Base provides the on-chain settlement infrastructure; Marqeta handles card issuance, payment processing, and relationships with banks and card networks. Cardholders can use their stablecoin balances to make purchases at merchants worldwide that accept card payments, and businesses can issue cards and fund card programs around the clock.

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