Coinbase and Marqeta have expanded their existing partnership to develop stablecoin-backed payment cards for businesses. The planned offering would let cardholders spend from stablecoin balances at merchants that already accept conventional payment cards. #Coinbase will provide custody and conversion between digital assets and fiat, while Base, a layer-2 network built on Ethereum ( $ETH ), will handle on-chain settlement.
Marqeta will manage card issuance, transaction processing and relationships with banks and payment networks. The companies say business card programs could be funded around the clock, rather than only during conventional banking hours. #Marqeta already issues #crypto -backed cards for Coinbase, so this is an extension of an existing relationship.
No customer launch date, supported stablecoin list or transaction volume was disclosed. The announcement is a collaboration, not confirmation of a live rollout. Source: Marqeta and Coinbase.
Marqeta will manage card issuance, transaction processing and relationships with banks and payment networks. The companies say business card programs could be funded around the clock, rather than only during conventional banking hours. #Marqeta already issues #crypto -backed cards for Coinbase, so this is an extension of an existing relationship.
No customer launch date, supported stablecoin list or transaction volume was disclosed. The announcement is a collaboration, not confirmation of a live rollout. Source: Marqeta and Coinbase.