[Coinbase and Cardless Jointly Launch Stablecoin-Backed Credit Card] According to CoinDesk, Cardless has partnered with Coinbase to launch a credit card backed by stablecoins, targeting users who hold digital assets but are unable to obtain credit cards through traditional channels. Applicants are required to use a portion of their USDC holdings as collateral, while still earning yields on staked assets, and pay a $49.99 fee to gain access to the card. Cardless co-founder Michael Spelfogel stated that applicants come from various credit score ranges, with some believing in cryptocurrency but just starting to accumulate wealth. This product continues the previous collaboration between the two parties, which included the Coinbase-branded American Express card offering up to 4% Bitcoin cashback.