October 16th 2026, 4:47 PM
Coinbase Partners with Marqeta for Global Stablecoin-Backed Cards
Key Summary
Coinbase has partnered with Marqeta to bring stablecoin-backed cards to businesses worldwide, but its stock price fell 3% despite the announcement. The partnership allows businesses to fund card programs around the clock and cardholders to spend directly from their stablecoin balances at any merchant that accepts standard cards globally.
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Precedent & Market Context
Tokenized stock trading is expanding beyond US market hours, with over 70% of trading volume on BNB Chain and Solana occurring outside of regular trading windows. A proposed change to US accounting standards could make stablecoins more attractive to corporate treasuries. Strive’s expanding Bitcoin treasury is a sign of the growing interest in Bitcoin and cryptocurrency assets.The Partnership
Marqeta announced Friday that it’s expanding its existing relationship with Coinbase to let both crypto-native and traditional businesses issue stablecoin-backed cards. The two companies split the work along clear lines: Coinbase handles custody of stablecoin balances, manages conversion between digital assets and fiat, and provides settlement through Base, its own blockchain. Marqeta handles card issuance, payment processing, and the bank and network relationships needed to make the cards work at checkout.Market Reaction
Coinbase shares slipped below both their 50-day and 100-day EMAs near $179, suggesting the stock’s recent rebound lost momentum regardless of the partnership news. RSI sits at 47.68, pointing to sellers still holding a slight edge. Support sits in the $168 to $170 range, where price recently bounced near a descending trendline. Reclaiming the 20-day EMA at $182.07 would strengthen any recovery attempt, with the 200-day EMA at $192.48 marking the next major resistance zone above current levels.- \1\1\1
#Crypto#US#Stablecoins