Coinbase and Cardless unveil credit card backed by stablecoins

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Coinbase and Cardless unveil credit card backed by stablecoins The stablecoin-secured card is for situations where a credit card cannot be approved on an unsecured basis. By Ian Allison | Edited by Sheldon Reback Jun 9, 2026, 8:04 a.m. 1 min read Make preferred on Coinbase CEO Brian Armstrong (Jesse Hamilton/CoinDesk) What to know : Cardless and Coinbase are introducing a payment card that lets stablecoin holders use their crypto as collateral when they cannot qualify for a traditional unsecured credit card. Applicants set aside a portion of their USDC holdings on Coinbase as collateral, continue to earn yield on those sequestered assets and pay a $49.99 fee for access to the card. The product extends a partnership that began with a Coinbase-branded American Express card offering up to 4% bitcoin cashback and reflects Cardless’s push to modernize rigid, bank-centric credit programs. Cardless, a firm that has facilitated credit cards for brands like Qatar Airways and Alibaba, said it developed a payment card in conjunction with crypto exchange Coinbase (COIN) for stablecoin holders who are unable to obtain one through traditional channels. The Coinbase stablecoin-secured product is for situations where a regular credit card cannot be approved on an unsecured basis, but the applicant holds digital assets on the exchange, said Cardless co-founder Michael Spelfogel. Some of their stablecoin holdings are set aside as collateral against the debt. “People apply from all different parts of the credit spectrum,” Spelfogel said in an interview. “There are some people that want to use this method because they believe in cryptocurrency, but they're just beginning their journeys and accumulating wealth.” Cardholders, who pay $49.99 for the privilege, still earn yield on their sequestered USDC holdings, Spelfogel said. The product builds on a partnership that started in September, when the firms introduced a Coinbase-branded card in association with American Express (AXP). That card offered up to 4% cashback in bitcoin BTC $ 63,271.85 . Cardless declined to say how many of the cards have been issued. Traditional credit programs are slow-moving, rigid systems designed around banks that left billions on the table because companies never had the tools to design credit on their own terms, according to Cardless. Coinbase More For You Live markets: Bitcoin above $63,000 as some traders peg SpaceX's IPO as 'next catalyst' By Shaurya Malwa , Omkar Godbole 2 hours ago Stocks recovered through SpaceX's oversubscribed IPO, an Nvidia and SK Hynix chip pact, and Apple's AI reboot, while crypto trailed. Read full story Latest Crypto News Saylor blamed AI for bitcoin crash. Arca has one word for that: Nonsense 2 hours ago Live markets: Bitcoin above $63,000 as some traders peg SpaceX's IPO as 'next catalyst' 2 hours ago Chinese mining CEO says Strategy can survive a $30,000 bitcoin without selling 3 hours ago Humanity Protocol token crashes more than 80% after a $32 million private-key hack 3 hours ago Forehead tattoos and alcohol dares: Inside the dark underbelly of crypto's memecoin craze 9 hours ago Influential research firm that caused AI stock meltdown lays out Hyperliquid as 'compelling' idea 13 hours ago Top Stories Blame bitcoin's tumble on rising inflation, not Strategy, 10xResearch argues 17 hours ago Zcash bounces 45% as developers propose new 'Ironwood' upgrade 23 hours ago Strategy buys 1,550 bitcoin one week after selling $2.5 million of coins 19 hours ago Bitcoin's rally to $63,700 triggers $504 million losses for short sellers, most since late April Jun 8, 2026 In this article BTC BTC $ 63,271.85 ◢ 0.05 %