We’re excited to announce today that Marqeta has been chosen by Coinbase, the world’s leading and most trusted cryptocurrency platform, to power the launch of its Coinbase Card in the U.S. Coinbase customers in the U.S. can now sign up for a waitlist to get the card.
Coinbase has more than 35 million users who have traded more than $220 billion in cryptocurrencies. Its Coinbase Card allows its customers to make purchases either online or in stores, with Coinbase selling the required cryptocurrency1Coinbase will automatically convert all cryptocurrency to US Dollars for use in purchases and ATM withdrawals to fund the U.S. dollar value of the purchase, effectively allowing cardholders to monetize the value of their cryptocurrency holdings.
At Marqeta, we want to empower builders to bring the most innovative products to the world. By enabling Coinbase’s millions of customers in the U.S. to spend cryptocurrency at the point of sale, the Coinbase Card is taking big steps toward the future of money, and we’re excited that several of Marqeta’s innovations, like Just-in-Time Funding and instant issuance, will help bring that to life in the U.S.
The advanced capabilities of Marqeta’s modern card issuing platform are supporting several unique capabilities for the Coinbase Card in the U.S., including our industry defining Just-in-Time funding feature to make authorization decisions at the point of sale based on a user’s available cryptocurrency balance. A virtual card will be activated once an account is opened, followed by the arrival of a physical card.
The Coinbase Card is issued by MetaBank®, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. The Coinbase Card is powered by Marqeta.