Marqeta Teams with BVNK for Stablecoin-Backed Card Capabilities

Marqeta, a card issuing platform provider, has partnered with BVNK, a stablecoin infrastructure company, to offer stablecoin-backed card capabilities to its customers. This collaboration aims to provide users with the ability to transact in digital dollars at millions of merchants globally using standard payment cards.

The integration will enable Marqeta's customers to embed stablecoin capabilities into wallets, cards, and everyday financial products, making it easier for them to adopt digital dollars and scale their use across payment operations. BVNK's regulated platform will provide the infrastructure for moving and managing stablecoins and traditional fiat currencies through familiar financial products.

Marqeta handles card issuance, acceptance, and bank and network relationships. The partnership is significant because it connects Marqeta with two parts of Mastercard's network, which acquired BVNK earlier this year. The collaboration will eventually give Marqeta's customers a path to other Mastercard capabilities through the same integration.

Mastercard, Marqeta, and BVNK are all supporters of the Open USD stablecoin standard, which aims to create a shared foundation for stablecoin payments that works across networks, providers, and use cases. Recent research from PYMNTS Intelligence shows that consumers are increasingly interested in making purchases with cryptocurrencies and stablecoins but are held back by acceptance, trust, and uneven payment experiences.