Coinbase and Marqeta expand partnership to launch stablecoin-backed cards for enterprises

Coinbase and Marqeta are expanding their partnership to power stablecoin-backed payment cards for enterprise customers. The two companies announced the deal on October 16, 2026. The pitch is simple. A business holds stablecoins, its cardholders swipe at a regular merchant, and the shop never has to know crypto was involved. Stablecoins are tokens built to track the value of a traditional currency. They have spent years as a tool for traders. This deal aims to make them something an accounts payable team might actually use. Who does what Coinbase takes custody of the stablecoin balances. It will also handle conversion into fiat currency and run on-chain settlement through Base, its own blockchain. Marqeta covers the traditional card side. It will issue the cards and process payments. It will also manage the relationships with financial institutions and card networks. The result for cardholders is spending power at any merchant that accepts traditional cards. The stablecoin account sits behind the card, and the checkout counter sees a normal transaction. One feature stands out: programs built on the partnership will support 24/7 funding. Traditional banking rails tend to keep busines...