Cryptocurrency Innovators Invest in New Card Solutions, With Marqeta’s Modern Card Issuing Platform Powering Growth of New Category
Marqeta (NASDAQ: MQ) announced it is powering cryptocurrency spending and rewards products for major players like Coinbase, Fold, Shakepay, and Bakkt. The increase in cryptocurrency popularity, with 14% of US citizens reportedly owning crypto, has fueled demand for modern payment solutions. Marqeta’s innovative platform enables cryptocurrency transactions at point-of-sale and offers customizable card solutions. Key features include Just-in-Time Funding, real-time notifications, and instant card issuance, enhancing the digital banking experience.
- Established partnerships with industry leaders like Coinbase and Bakkt to power innovative card solutions.
- Growing demand for cryptocurrency payment products aligns with Marqeta's capabilities, accessing 14% of US crypto owners.
- Innovative features such as Just-in-Time Funding and customizable APIs enhance customer engagement and service offerings.
- None.
Category leaders
Use of cryptocurrencies has grown considerably in
“Coinbase set out to allow our customers to seamlessly spend cryptocurrency anywhere, and
“Fold was looking to bring a unique feature set to market: a card that could deliver gamified bitcoin rewards while incentivizing responsible spending and saving habits. We are proud to have a payments partner like
Marqeta’s cutting edge Just-in-Time Funding innovation allows cryptocurrency wallets to build out card products, making authorization decisions at the point of sale based on a user’s available cryptocurrency balance. Marqeta’s open APIs allow its customers to build customizable experiences, easily integrating with other apps and offering visibility and transparency through real-time notifications and monitoring powered by webhooks.
These unique features of Marqeta’s modern card issuing platform have been leveraged by several customers in recent months to launch innovative new products allowing customers to either earn, or spend cryptocurrency at the point of sale:
- Bakkt launched its Visa Debit Card, which allows customers to spend Bitcoin and cash balances from their Bakkt accounts, anywhere Apple Pay or Google Pay are accepted.
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Coinbase launched its Visa Debit Card, which allows users to spend their cryptocurrency balances anywhereVisa debit cards are accepted and earn additional crypto rewards on eligible purchases. - Fold launched its Bitcoin cashback debit card, which offers Bitcoin rewards through a gamified experience that emphasizes healthy financial habits.
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Montreal -based Shakepay announced its new Visa Card, which is currently available for beta access as a virtual card and allows customers to spend Canadian dollars at physical and virtual merchants and earn Bitcoin rewards on every purchase.
“To see such an impressive list of innovators turn to
Link to Marqeta’s crypto cards solution page: https://www.marqeta.com/payment-solutions/crypto-cards/
About
Marqeta’s modern card issuing platform empowers its customers to create customized and innovative payment cards. Marqeta’s platform, powered by open APIs, gives its customers the ability to build more configurable and flexible payment experiences, accelerating product development and democratizing access to card issuing technology. Its modern architecture provides instant access to highly scalable, cloud-based payment infrastructure that enables customers to launch and manage their own card programs, issue cards and authorize and settle transactions.
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Kevin.McLaughlin@icrinc.com
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