Coinbase and Cardless Launch Stablecoin-Backed Credit Card

• Coinbase and Cardless launched a credit card backed by stablecoins, letting users fund spending with USDC directly
• The Coinbase One Card runs on the American Express network, offering up to 4% bitcoin back on every purchase
• Exclusively available to Coinbase One members in the U.S., with no added annual fee for Basic annual plan holders

A leading digital asset exchange recently made a big leap in the liquidity of real-world payments. 

Coinbase teamed up with a financial technology firm, Cardless, to roll out what people have been waiting for: a stablecoin-backed credit card.

How the New Coinbase Card Transforms Crypto Liquidity

Cardless, a credit card provider for businesses including Qatar Airways and Alibaba, announced the creation of a payment card in collaboration with cryptocurrency exchange Coinbase (COIN) for stablecoin holders.

信用卡发行服务商 Cardless 与 Coinbase 推出一款面向稳定币持有者的支付卡。该产品适用于无法获批传统无抵押信用卡、但在 Coinbase 持有数字资产的用户，申请人可将部分 USDC 持仓划作债务抵押，并继续从被隔离的 USDC 资产中获得收益；持卡人需支付 49.99…

— 吴说区块链 (@wublockchain12) June 9, 2026

According to Cardless co-founder Michael Spelfogel, the Coinbase stablecoin-secured product is intended for circumstances in which a standard credit card cannot be authorised unsecured, but the applicant owns digital assets on an exchange. 

The product is aimed at people who struggle to get approved for a conventional unsecured credit card. 

Applicants with digital assets on Coinbase may set aside a portion of their stablecoin holdings as collateral for the balance.

The collateral will be in USD Coin (USDC). Coinbase users can limit their card spending by locking up a percentage of their USDC balance.

Michael Spelfogel explained that some users believe in digital assets but are still in the early phases of wealth accumulation, making the structure appealing to them.

Cardholders will incur a $49.99 cost. 

Users will continue to earn a yield on the USDC pledged as collateral, Spelfogel said.

Exclusive Perks for the Coinbase Premium Ecosystem

The premium product is still only available to premium subscribers in the U.S. market.

Specifically, verified members of the Coinbase One tier can apply for the card today.

Moreover, corporate partners will provide basic annual plan holders with a waiver of the usual annual charges.

The company offers multiple top-tier features as part of its subscription service to encourage adoption. 

In addition to lower trading fees on the primary platform, users will have access to dedicated customer support teams. 

With this, the card becomes an appealing vehicle for getting more people involved in the ecosystem.

In the meantime, the product is aimed at US retail consumers, expanding the firm’s reach.

Cardless Powering the Secure Backend Infrastructure

The entire platform utilizes the robust embedded credit infrastructure built specifically by fintech innovator Cardless. 

The card therefore fully embeds and integrates natively in the existing mobile application. 

The deep technical integration helps users to easily monitor balances and manage limits.

Furthermore, First Electronic Bank issues the physical card to ensure complete regulatory compliance. 

This banking partnership blends advanced crypto rewards with traditional American Express network protections and travel benefits. 

Finally, the underlying architecture shows how traditional finance keeps blending into Web3 rails. 

The embedded software apparently helped the teams ship a secure product in record time. 

Overall, the collaboration suggests it’s possible to scale crypto utility safely.