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Seeking Alpha 2021-10-19 12:22:50

Marqeta stock surges after highlighting Bakkt, Coinbase, Fold products

Marqeta (NASDAQ:MQ) gains 3.8% in premarket trading after the card issuing platform says it's powering cryptocurrency spending and rewards products for Coinbase (NASDAQ:COIN), Fold, Shakepay, and Bakkt (NYSE:BKKT) and is seeing interest in its new card products increasing. Marqeta (MQ) opened up new applications of its platform to allow cryptocurrency to be spent at the point of sale, or allow consumers to earn rewards in crypto from debit and credit card spending, the company said in a statement. In addition, on Monday, famed short seller Andrew Left's Citron Research posted a tweet highlighting bitcoin's (BTC-USD) rise to $60K. "Now if you want to pop the champagne, you are thankful for $MQ, the best way to turn BTC into spending," Citron said. In today's company statement, Marqeta (MQ) highlighted uses by its customers: Bakkt (BKKT) launched its Visa Debit Card, allowing customers to spend bitcoin and cash balances from Bakkt accounts wherever

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