Coinbase, Marqeta expand partnership for stablecoin-backed enterprise cards

Coinbase and Marqeta have announced an expansion of their collaboration to introduce stablecoin-backed payment cards aimed at enterprise clients. This move will allow companies to utilize stablecoin balances for transactions with merchants that accept cards globally. Coinbase will handle stablecoin custody and fiat conversion, while Marqeta will manage card issuance and payment processing. The timeline for customer rollout and specific financial terms have not been disclosed. This development is seen as a potential boost for the crypto market, particularly for Ethereum , given its strong position in the DeFi space and its use in stablecoin transactions.

Source: Crypto Briefing