Marqeta announced an expanded collaboration with Coinbase on October 16 to help its enterprise customers offer cards funded by stablecoin balances. The arrangement is planned, with no rollout date disclosed. It covers both crypto-native and non-crypto firms.
Coinbase would custody stablecoin balances and convert digital assets into fiat. Base would provide on-chain settlement infrastructure, while Marqeta would issue cards, process payments, and manage bank and network relationships. Businesses could fund card programs around the clock, according to the announcement.
The announcement does not name a supported stablecoin, specify eligible countries or provide pricing. Its description of merchant acceptance does not establish where businesses can enroll or which programs are available today. No initial enterprise customer is named, and no detailed integration contract is provided.
The two firms already have a card relationship. Marqeta's October 28, 2020 announcement concerned the U.S. launch of Coinbase Card and invited U.S. customers to a waitlist. It described a consumer card for online and in-store purchases, with Coinbase converting cryptocurrency into U.S. dollars to fund purchases and ATM withdrawals.
That earlier announcement also described Marqeta's Just-in-Time Funding feature, which used a customer's available cryptocurrency balance when making payment authorization decisions. Those historical details explain the existing relationship; they are not specifications for the newly announced enterprise arrangement.
Digital Transactions separately reported the expansion and identified Marqeta's enterprise customers as its intended audience. The release treats the collaboration and expected benefits as forward-looking. The new announcement therefore does not establish that an enterprise card program has entered production.