Coinbase and Marqeta to Expand Partnership, Launching Stablecoin Payment Card Services for Businesses
BIBIBI
AT A GLANCE
Marqeta and Coinbase are expanding their partnership and plan to offer businesses payment card services backed by customers' stablecoin assets.
Article
Coinbase expands partnership with Marqeta to offer stablecoin payment card services to businesses
BlockBeats reports,October 17, payment technology company Marqeta will expand its partnership with Coinbase, allowing businesses to launch payment cards backed by customers' stablecoin assets.Coinbase will be responsible for stablecoin custody and conversion between digital currencies and fiat currencies, while Marqeta will handle card issuance and payment processing, and Coinbase's Base blockchain will provide on-chain settlement infrastructure.
The service targets Marqeta's business customers, including crypto-industry and traditional businesses. Cardholders can spend stablecoins at millions of merchants worldwide that accept card payments, while businesses can fund their payment card programs around the clock. The two parties previously partnered on Coinbase's proprietary card business.
Specific fees, the official launch date, and the initial stablecoins to be supported have not yet been announced.
Original link https://m.theblockbeats.info/flash/372299
Key points
01
Marqeta will expand its partnership with Coinbase, allowing businesses to launch payment cards backed by customers' stablecoin assets.
02
Coinbase will be responsible for stablecoin custody and conversion between digital currencies and fiat currencies.
03
Marqeta will be responsible for card issuance and payment processing.
04
Coinbase's Base blockchain will provide on-chain settlement infrastructure.
05
The service targets Marqeta's business customers, including crypto-industry and traditional businesses.
06
Cardholders can spend stablecoins at millions of merchants worldwide that accept card payments, while businesses can fund their payment card programs around the clock.
07
The two parties previously partnered on Coinbase's proprietary card business.
08
The parties have not yet announced specific fees, the official launch date, or the initial stablecoins to be supported.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Businesses can use this partnership to issue payment cards linked to customers' stablecoin assets. During use,Coinbase handles asset custody and currency conversion, Marqeta handles card issuance and payments, and Base is responsible for on-chain settlement.
Why it matters to readers
This partnership connects stablecoin assets with widely used card payment networks and expands the service's customer base to crypto-industry and traditional business clients.
Beginners can understand it this way: stablecoins are held in custody and converted by the relevant systems, while the spending interface is a payment card usable at merchants that accept card payments.
Risks and unknowns
Specific fees have not yet been announced.
The official launch date has not yet been announced.
The initial stablecoins to be supported have not yet been announced.
The report does not provide the scale of business adoption or transaction volume after the service goes live.
Related Developments
Loading event timeline…
Related concepts
Stablecoin
An asset that seeks to track a reference value and is subject to risks including depegging, reserves, and redemption.
