Coinbase and Marqeta expand partnership to power stablecoin-backed enterprise cards
In brief
- Coinbase and Marqeta announced the expanded deal on October 16, 2026, Crypto Briefing reported.
- Coinbase will custody stablecoin balances, handle fiat conversion and settle on-chain through Base.
- Marqeta will issue cards, process payments and manage bank and card-network relationships.
- Volume and revenue figures tied to the expanded deal were not disclosed by either company.
How the split works
The division of labor is fairly clean. Coinbase takes custody of the stablecoin balances, per the companies' announcement as reported by Crypto Briefing, and it'll also handle conversion into fiat currency (with settlement running on Base).
Marqeta covers the traditional card side. It'll issue the cards, process payments and manage relationships with financial institutions and card networks.
For cardholders, the result is spending power at any merchant that accepts traditional cards. Programs built on the partnership will support 24/7 funding, according to the report.
Not their first card together
This isn't new territory for the two firms. Marqeta powered the original launch of Coinbase's crypto spending card back in 2020-2021, a product that let individual Coinbase users spend their crypto holdings. The new deal is aimed at enterprise customers instead.
Crypto Briefing reported that Marqeta processed nearly $400 billion in payments volume in 2025 and operates in over 40 countries. The outlet also reported that the company's average deal size surged in 2026, which it read as a sign of enterprises asking for more flexible payment setups.
Who it's for
So who's the customer? According to Crypto Briefing, Marqeta is targeting two groups. One is crypto-native companies that already hold digital assets; the other is traditional firms that want to fold those assets into everyday fiat payment operations.
The outlet described the expansion as a bid by Marqeta to grow its presence in the stablecoin market. Crypto Briefing also noted that regulatory treatment of stablecoins varies across countries (Marqeta, again, operates in over 40 of them).
Neither company disclosed volume or revenue figures tied to the expanded deal.
Frequently asked questions
How will the Coinbase and Marqeta stablecoin cards work?
Coinbase takes custody of the stablecoin balances, handles conversion into fiat currency and runs on-chain settlement through Base, its own blockchain. Marqeta issues the cards, processes payments and manages relationships with financial institutions and card networks, according to Crypto Briefing.
Who are the stablecoin-backed cards aimed at?
According to Crypto Briefing, Marqeta is targeting crypto-native companies that already hold digital assets and traditional firms that want to fold those assets into everyday fiat payment operations. The cards are for enterprise customers rather than individual users.
Have Coinbase and Marqeta worked together before?
Yes. Marqeta powered the original launch of Coinbase's crypto spending card in 2020-2021, a product that let individual Coinbase users spend their crypto holdings. The new deal expands that partnership to enterprise customers.
