Coinbase Card uses crypto as collateral

Coinbase is reportedly launching a new payment card in partnership with FinTech Cardless. This innovative card is designed to assist stablecoin holders who face difficulties obtaining traditional credit cards. By utilizing Coinbase's stablecoins as collateral, the card offers a novel solution for credit-insecure customers. This initiative by Coinbase aims to broaden access to financial services by leveraging the utility of cryptocurrencies in a more conventional payment method.