BVNK and Marqeta, Inc. announced a partnership to deliver stablecoin-backed card capabilities to crypto-native and non-crypto companies. The integration will enable Marqeta’s customers to embed stablecoin capabilities into wallets, cards, and everyday financial products, unlocking stablecoin spendability so users can transact in digital dollars at millions of merchants globally with a standard payment card.

The announcement comes as stablecoins move beyond crypto-native applications and into the infrastructure powering global financial services — a shift both companies emphasized.

The deal brings together two payments providers with significant scale. Marqeta, the modern card issuing platform provider, processed nearly $400 billion in annual payments volume during 2025, demonstrating the depth and scale of its offering. BVNK is the stablecoin payments infrastructure provider behind more than $39 billion in annualized payment volume, helping enterprises move digital dollars globally.

The partnership is noteworthy because it connects Marqeta with two existing parts of Mastercard’s network. Mastercard is one of Marqeta’s major network partners, while BVNK’s stablecoin infrastructure has been part of Mastercard since its acquisition of the business in August 2026. Over time, the growing collaboration will give Marqeta’s customers a path to additional Mastercard capabilities through the same integration, rather than a separate build.

Mastercard, Marqeta, and BVNK are also all supporters of Open USD, a global standard for stablecoins that is collaborative, transparent, and built to scale. By bringing together companies across the payments ecosystem around a common standard, Open USD is intended to create a shared foundation for stablecoin payments that works across networks, providers, and use cases — making it easier to adopt digital dollars and scale them across payment operations.

The partnership reflects growing demand for stablecoin wallets inside mainstream financial products. Earlier this year, BVNK research found that 77% of surveyed crypto holders would open a stablecoin wallet through their primary bank or fintech app if one were available.

For Marqeta’s customers, the deal provides access to stablecoin infrastructure without having to build and operate it themselves. That access becomes even more powerful when paired with attached card credentials that allow users to spend wherever Mastercard is accepted, with no changes required on the merchant side.

“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,” said Anthony Peculic, Chief Strategy Officer at Marqeta. “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.”

The companies outlined a clear division of responsibilities. BVNK will provide the infrastructure for Marqeta’s customers to move and manage stablecoins alongside traditional fiat currencies through familiar financial products, while Marqeta will manage card issuance, acceptance, and bank and network relationships. Marqeta selected BVNK’s regulated platform to accelerate delivery while maintaining the compliance and operational standards expected by enterprise customers.

“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,” said Chris Harmse, Co-Founder and Chief Business Officer at BVNK. “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 who’s been building on it for years, is exactly the kind of connection we exist to make.”

The partnership is another sign that stablecoins are moving beyond crypto-native applications and into the infrastructure powering global financial services. As stablecoin networks mature, they are becoming another payments rail alongside cards and bank transfers.