Marqeta, BVNK launch stablecoin-backed Mastercard cards

Marqeta and BVNK announced on Sept. 9, 2026 that Marqeta customers can issue stablecoin-backed Mastercard payment cards and embed stablecoin wallets across more than 40 countries via a BVNK integration. The agreement was revealed at Stablecon in Washington, D.C.

Under the agreement, BVNK will provide custody, settlement and stablecoin rails while Marqeta will handle card issuance, transaction acceptance and its existing bank and network relationships. Cardholders will receive standard Mastercard-branded cards that spend digital dollars at merchants that accept Mastercard; conversion from stablecoin to the card’s settlement currency occurs behind the scenes so merchants do not need to accept crypto directly.

Marqeta reported nearly $400 billion in audited annual payment volume for 2025 and said it is certified in more than 40 countries. BVNK provided an annualized volume figure above $39 billion and operates in over 130 countries. Mastercard completed its acquisition of BVNK in August 2026, and the companies said the BVNK integration will provide a path to additional Mastercard capabilities through the same connection.

Marqeta customers will access BVNK’s platform through Marqeta’s existing integration surface, avoiding a direct blockchain integration for the card issuer or fintech. BVNK will manage stablecoin balances, custody and movement alongside fiat, while Marqeta will attach card credentials to those balances and handle settlement and acceptance.

The announcement lists support from Marqeta, BVNK and Mastercard for Open USD, a proposed cross-network standard for stablecoins. The release provided limited technical detail on Open USD’s governance and operations but named it as a collaborative standard backed by the three firms.

BVNK cited a 2026 survey finding that 77% of crypto holders would open a stablecoin wallet inside their primary bank or fintech app if offered. The companies identified target use cases that include cross-border payments, payroll and contractor platforms. BVNK’s background material lists customers including Corpay, Worldpay, Deel and Flywire.

Anthony Peculic, Marqeta’s chief strategy officer, noted the question for stablecoins is “how you incorporate them into the infrastructure people and businesses already trust.” BVNK co-founder and chief business officer Chris Harmse described the aim as making the stablecoin layer “invisible” to developers.

The companies said adding a stablecoin balance to an existing Marqeta card program will be a configuration and compliance decision rather than a major engineering project for customers. They also warned that programs that adopt the BVNK route will run on Mastercard-owned infrastructure and that later migration to a different network would require additional work and likely incur extra costs.