Payments technology firm Marqeta and cryptocurrency exchange Coinbase announced on October 16, 2026, an expansion of their existing partnership to deliver stablecoin-backed payment cards for businesses. The collaboration allows Marqeta’s enterprise customers to offer cards that let users spend from stablecoin holdings at merchants that accept traditional bank cards.

Under the arrangement, Coinbase will custody the stablecoin balances and manage conversion between digital assets and fiat currency. Coinbase’s Base blockchain will handle on-chain settlement. Marqeta will issue the cards, process payments, and manage relationships with banks and card networks.

How the Service Works

Businesses will be able to issue cards and fund their programs around the clock, outside standard banking hours. Cardholders can then use the cards to spend stablecoin balances at millions of merchants worldwide that accept conventional payment cards.

The offering targets both crypto-native companies and traditional firms that may lack their own digital-asset infrastructure. Marqeta said the expansion forms part of its broader effort to support digital-asset-backed payments through a network of partners.

Marqeta already issues crypto-backed payment cards for Coinbase under a relationship that dates back several years. The new program extends that work specifically to stablecoin balances for a wider set of enterprise clients.

Roles and Infrastructure

Coinbase provides the stablecoin custody, fiat conversion, and settlement infrastructure on Base. Marqeta contributes its card-issuing platform, payment processing capabilities, and established connections to banks and card networks.

Marqeta reported nearly $400 billion in payment volume in 2025 and operates in more than 40 countries. The companies did not disclose financial terms of the expanded agreement, a specific launch timeline for enterprise customers, or which stablecoins the programs will support.

The partnership follows other recent efforts by Coinbase to broaden stablecoin payment access for corporate users. It positions the two firms to support businesses seeking continuous funding and familiar card-based spending from digital-asset balances.