Coinbase and Cardless Launch Stablecoin-Backed Credit Card
Coinbase and Cardless introduce a credit card allowing stablecoin users to use their crypto as collateral. This card aims to assist those who cannot qualify for a traditional credit card, according to reporting by CoinDesk.
On June 9, 2026, Coinbase and Cardless announced the launch of a new payment card that enables stablecoin holders to leverage their digital assets as collateral for credit. This product targets users unable to secure traditional unsecured credit cards, allowing them to set aside a portion of their USDC holdings on Coinbase while continuing to earn yield on those assets. Users pay an annual fee of $49.99 for access to this card.
According to Cardless co-founder Michael Spelfogel, this innovation is designed for applicants from various credit backgrounds. He stated, "People apply from all different parts of the credit spectrum. There are some people that want to use this method because they believe in cryptocurrency, but they are just beginning their journeys and accumulating wealth." By using their USDC as collateral, cardholders can navigate credit markets that might otherwise reject them due to a lack of credit history.
The card emerges from a partnership initiated in September 2025, which aimed to provide a Coinbase-branded offering associated with American Express that features up to 4% cashback in Bitcoin. Cardless aims to modernize traditional credit systems that it views as outdated and restrictive, asserting that many consumers have been left underserved by conventional banking structures.
While Coinbase and Cardless have not disclosed how many of these new cards have been issued, the offering reflects a broader drive in the cryptocurrency sector to integrate digital assets into everyday financial solutions. Investors and consumers will be interested in the uptake and impacts of this card, especially as more individuals seek alternatives to traditional credit.
Summary based on original reporting by Ian Allison at CoinDesk, originally published Jun 9, 2026. SolanaWire does not republish source content.
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