Marqeta & BVNK link stablecoins to Mastercard cards

Marqeta and BVNK have partnered to offer stablecoin-backed card features to card, wallet and financial product providers, linking Marqeta's card issuing platform with BVNK's stablecoin payments infrastructure.

The integration will allow Marqeta customers to add stablecoin functions to wallets, cards and other financial products, letting users spend digital dollars through standard payment cards at merchants that accept Mastercard.

The move comes as payment groups test whether stablecoins can shift from specialist crypto use into mainstream consumer and business payment flows. Research conducted by BVNK earlier this year found that 77% of surveyed crypto holders would open a stablecoin wallet through their main bank or fintech app if one were available.

Marqeta processed nearly USD $400 billion in annual payments volume in 2025, while BVNK's platform handled more than USD $39 billion in annualised payment volume. The tie-up brings together a card issuer processor and a stablecoin infrastructure provider as established payment networks explore how digital dollar products can sit alongside cards and bank transfers.

Mastercard link

The partnership also reflects Mastercard's growing involvement in the area. Mastercard is one of Marqeta's network partners, and BVNK became part of Mastercard after its acquisition in August 2026.

The link could give Marqeta customers access to additional Mastercard services through the same integration, rather than requiring separate technical work. All three groups also back Open USD, which they describe as a global standard for stablecoins designed to work across networks, providers and use cases.

Under the arrangement, BVNK will provide the infrastructure for moving and managing stablecoins alongside fiat currencies. Marqeta will handle card issuance, acceptance, and relationships with banks and payment networks.

The structure targets companies that want to add stablecoin services without building their own settlement and custody infrastructure. It also points to a division of labour that mirrors the traditional card market, where specialist providers handle network access, compliance processes and transaction management behind the scenes.

Anthony Peculic, Chief Strategy Officer at Marqeta, set out the company's position on the shift. "Stablecoins are becoming a durable, complementary layer in global money movement, particularly where speed and cost matter most. The real question is how you incorporate them into the infrastructure people and businesses already trust," he said.

He added that the cards would work within existing merchant systems. "By collaborating with Mastercard and BVNK, we're enabling our customers to issue stablecoin-backed cards that work anywhere cards are accepted, without requiring merchants to change how they accept payments. This partnership further strengthens Marqeta's leadership at the intersection of crypto and fiat payments, and our ability to deliver flexible solutions to both crypto-native and non-crypto companies," Peculic said.

Broader demand

For Marqeta, the agreement offers a way to serve clients seeking exposure to stablecoin payment flows while keeping a familiar card-based user experience. For BVNK, it extends its infrastructure to a wider base of fintech and embedded finance providers that already use Marqeta for card issuance.

The announcement suggests stablecoin adoption is being framed less as a standalone crypto product and more as an additional payments rail. That matters for banks, fintechs and consumer platforms weighing whether digital dollars can be integrated into existing products without forcing users or merchants to learn new systems.

Chris Harmse, Co-Founder and Chief Business Officer at BVNK, said the shift is being driven by the international nature of digital finance products

. "As more financial products become global by default, businesses need infrastructure that lets money move as quickly as information. Stablecoins are becoming part of the core payments infrastructure, and we are excited to help bring these capabilities to Marqeta's customers," he said.

He said the aim was to make the underlying blockchain layer less visible to product developers. "Stablecoins are another financial building block. Developers shouldn't need deep blockchain expertise to use them any more than they understand card networks today. Our role is to make that infrastructure invisible, and doing that from inside Mastercard's network, alongside a partner like Marqeta that has been building on it for years, is exactly the kind of connection we exist to make," Harmse said.