• Marqeta announced a collaboration with Coinbase Global to issue stablecoin-backed payment cards, using Coinbase for custody, fiat conversion, and settlement on Base, while Marqeta handles card issuance, processing, and bank and network relationships.

• The tie-up effectively plugs Coinbase’s stablecoin and blockchain rails into Marqeta’s card platform, which could shift more everyday spending onto crypto-linked payment flows and deepen Coinbase’s role in digital asset payments infrastructure for enterprises.

• We will now look at how Coinbase’s stablecoin-backed card infrastructure with Marqeta might reshape the broader investment narrative around payments.

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