Marqeta, the modern card issuing platform, announced a collaboration with Coinbase, the leading regulated cryptocurrency exchange, to bring stablecoin-backed cards to both crypto-native and non-crypto firms. Leveraging Coinbase's crypto infrastructure, Marqeta will enable businesses to offer a payment card solution that allows users to tap into the benefits of stablecoins by turning their stablecoin balances into everyday card spend. The announcement reflects Marqeta's commitment to delivering stablecoin-backed cards through an ecosystem of partners to meet the accelerating demand for digital-asset-backed payments.
The collaboration will expand Marqeta’s relationship with Coinbase, for whom Marqeta already issues crypto-backed cards. The expanded relationship will bring together capabilities suited to the stablecoin-backed card needs of Marqeta’s enterprise customers. Coinbase will handle custody of stablecoin balances and manage the conversion between digital assets and fiat, while Base, Coinbase's blockchain, will provide the on-chain infrastructure for fast, secure, low-cost settlement. Marqeta will provide the card issuance and payment processing, and manage the bank and network relationships. Through the collaboration, businesses will be able to issue stablecoin-backed cards and fund their programs 24/7, while cardholders will be able to spend from a stablecoin balance at millions of merchants that accept cards globally. Together, the companies make it easier for businesses to turn stablecoin balances into everyday spending.
Coinbase has long been at the forefront of bridging traditional and decentralized finance, expanding beyond basic crypto trading to build a robust digital asset infrastructure through one regulated interface. Integrating with Coinbase will deepen Marqeta’s ability to provide its customers a single platform to deliver end-to-end payment offerings that unlock meaningful value across both fiat and digital asset markets.
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to the planned collaboration between Coinbase and Marqeta, including the responsibilities of each party and of third-party beneficiaries of that collaboration, the benefits of that collaboration for each of Coinbase and Marqeta, and the benefits of that collaboration for the customers of each of Coinbase and Marqeta; and statements made by senior leadership of each of Coinbase and Marqeta. In some cases, these forward-looking statements can be identified by the use of words such as outlook, believes, expects, potential, continues, may, will, should, could, seeks, projects, predicts, intends, plans, estimates, anticipates or the negative version of these words or other comparable words. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to: any factors creating issues with changes in domestic and international business, market, financial, political and legal conditions; and those risks and uncertainties included in the Risk Factors disclosed in Marqeta's Annual Report on Form 10-K, as may be updated from time to time in Marqeta’s quarterly and periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.
Alec Lovett, Head of Infrastructure Products Coinbase
Coinbase is enabling businesses to move money with the speed and efficiency they require. Our collaboration with Marqeta will combine our stablecoin payment rails with their powerful issuing and processing capabilities to deliver real-time global transactions that meet the needs of modern consumers and businesses.
Anthony Peculic, Chief Strategy Officer at Marqeta
As we build out the complete stack for stablecoin-backed cards, expanding our relationship with Coinbase was a natural next step. Coinbase brings scale and breadth of infrastructure to provide for the needs of our enterprise customers. Together, we will expand what businesses can deliver through Marqeta’s issuing and processing platform.
