Coinbase (COIN  ) fell 3% Friday even after announcing a partnership with Marqeta (MQ  ) to bring stablecoin-backed cards to businesses worldwide.

What the Marqeta Partnership Covers

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
The setup lets businesses fund card programs around the clock, while cardholders spend directly from their stablecoin balances at any merchant that accepts standard cards globally.

Coinbase Head of Infrastructure Products Alec Lovett said the partnership combines Coinbase's stablecoin payment rails with Marqeta's issuing and processing capabilities to deliver real-time transactions for both consumers and businesses.

Meanwhile, Marqeta Chief Strategy Officer Anthony Peculic called expanding the Coinbase relationship a natural next step as the company builds out its full stablecoin card infrastructure.

Why COIN Is Falling Anyway

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.