Coinbase and Marqeta announced an expansion of their partnership to introduce stablecoin-backed payment cards for enterprise clients. This initiative will allow companies to use their stablecoin balances for transactions with merchants accepting cards worldwide. Coinbase will handle stablecoin custody and fiat conversion, while Marqeta will manage card issuance and payment processing. The rollout timeline and financial terms have not been disclosed. This expansion could support the crypto market, particularly Ethereum, given its dominant position in decentralized finance.
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