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Coinbase is set to power stablecoin-backed cards for Marqeta customers, another sign stablecoins are pushing into card issuance rather than staying a trading-only rail. No economics in the item, so th

Coinbase-Maqeta partnership expands stablecoin payment infrastructure.

Context

What happened: Coinbase and Marqeta expanded their partnership so Coinbase will power stablecoin-backed cards for Marqeta customers. The deal builds on Marqeta's work powering Coinbase's U.S. debit card offering in 2020. Why it matters: The expansion extends the companies' existing card relationship into stablecoin-backed products, giving Marqeta customers access to Coinbase-powered cards.

COIN

$136.27

+3.13%

$18.51

+0.93%

What changed

Coinbase and Marqeta expanded their partnership so Coinbase will power stablecoin-backed cards for Marqeta customers. The deal builds on Marqeta's work powering Coinbase's U.S. debit card offering in 2020.

Why it matters

The expansion extends the companies' existing card relationship into stablecoin-backed products, giving Marqeta customers access to Coinbase-powered cards.

Sources

theblock