Coinbase and Marqeta team up on stablecoin-backed cards

Coinbase will provide custody, currency conversion and blockchain settlement for stablecoin-backed cards offered through Marqeta, giving the card platform’s business customers a way to let users spend stablecoin balances at merchants worldwide. The companies announced the collaboration on October 16, 2026. Marqeta’s announcement says businesses will be able to fund card programs around the clock.

What does Coinbase handle when a cardholder spends?

Coinbase will custody the stablecoin balances and manage conversion between digital assets and fiat currency, according to Marqeta. Base, Coinbase’s blockchain, will provide the on-chain infrastructure for settlement. The announcement describes those responsibilities but does not detail the transaction timing or the exact steps that occur after a cardholder taps or swipes.

Marqeta will issue the cards, process payments, and manage the bank and card-network relationships. In simple terms, Coinbase handles the digital-asset side while Marqeta connects the card program to the existing payment system. The companies say cardholders will be able to spend from stablecoin balances at millions of merchants that accept cards globally.

Who can offer the cards, and what is confirmed?

The service is aimed at Marqeta’s enterprise customers, including crypto-native and traditional businesses. Those businesses will be able to build card programs funded by customers’ stablecoin holdings. Marqeta says the collaboration combines Coinbase’s stablecoin infrastructure with its own card issuing and processing platform.

The Block’s report on the partnership notes that the announcement did not specify fees, a rollout date or which stablecoins the programs will support initially. The companies also did not name participating businesses or say when customers will first be able to use the new cards.

How does this extend the companies’ existing relationship?

Marqeta already issues crypto-backed cards for Coinbase. The new collaboration expands that relationship: Coinbase’s infrastructure will now support stablecoin-backed card programs for Marqeta’s broader enterprise customer base, while Marqeta continues to provide card issuance and payment processing.

The distinction matters because the announcement describes a service businesses can use to create their own programs, rather than a new consumer card launch by Coinbase. The stated setup links stablecoin custody and conversion with card processing and bank and network connections. Until the companies disclose supported stablecoins, fees and launch timing, those details remain open.

Sources and documents

• Marqeta’s announcement — investors.marqeta.com
• The Block’s report on the partnership — theblock.co