Coinbase And Marqeta Team Up To Bring Stablecoin Payments To Millions Of Merchants

TL;DR: Coinbase and card infrastructure company Marqeta are expanding their work on stablecoin-backed payment cards. The arrangement aims to let businesses build programmes that connect digital-dollar balances to conventional merchant payment networks. Coinbase and Marqeta are making another attempt to close the gap between cryptocurrency wallets and everyday spending. The companies announced expanded cooperation around infrastructure that enables businesses to issue payment cards backed by stablecoin balances. The objective is to allow customers to use digital dollars in ordinary card transactions without requiring every merchant to accept cryptocurrency itself. The Blockchain Stays Behind The Scenes Under the arrangement, Marqeta provides card issuing technology and access to established payment infrastructure. Coinbase contributes cryptocurrency custody, stablecoin conversion and settlement services, potentially using its Ethereum Layer-2 network Base for parts of the process.

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