Coinbase and Marqeta are expanding their partnership to develop payment cards backed by stablecoins. Marqeta provides card issuing technology and access to established payment networks, while Coinbase contributes cryptocurrency custody, stablecoin conversion and settlement services, potentially using its Ethereum Layer-2 network Base. The goal is to allow consumers to use digital dollars in conventional card transactions without requiring every merchant to accept cryptocurrency directly. This infrastructure is designed for businesses that want to build their own programs, not for an immediate launch of a card for all Coinbase customers.
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