Coinbase (COIN) Stock: Will Power Stablecoin-Backed Cards for Marqeta Customers

TLDR Coinbase (COIN) is expanding its six-year partnership with Marqeta to power stablecoin-backed cards for businesses. Coinbase will handle custody and currency conversion, while Marqeta manages card issuing and payment processing. Coinbase’s Base blockchain will provide the onchain settlement infrastructure. Businesses will be able to fund card programs 24/7, and cardholders can spend at millions of merchants. The release did not give fees, a rollout date, or the stablecoins that will be supported. Coinbase (COIN) is expanding its partnership with Marqeta to power stablecoin-backed cards for businesses. The news came in a Friday release, which did not include a COIN stock price or price move. Coinbase Global, Inc., COIN Coinbase will hold the stablecoins. It will also handle conversions between digital and traditional currencies.

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