Marqeta Turns to 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. This collaboration aims to enable crypto-native and non-crypto companies to embed stablecoin capabilities into wallets, cards, and everyday financial products. With this partnership, customers of Marqeta can transact in digital dollars at millions of merchants globally using standard payment cards.

BVNK will provide the necessary infrastructure for moving and managing stablecoins and traditional fiat currencies through familiar financial products, while Marqeta takes care of card issuance, acceptance, and bank and network relationships. This partnership connects Marqeta with two parts of Mastercard's network, as Mastercard is a major network partner for Marqeta and recently acquired BVNK.

The collaboration will also pave the way for Marqeta's customers to access other Mastercard capabilities through the same integration. Both Mastercard, Marqeta, and BVNK support the Open USD stablecoin standard, which aims to create a shared foundation for stablecoin payments that works across networks, providers, and use cases.

Research from PYMNTS Intelligence shows that consumers are increasingly interested in making purchases with cryptocurrencies and stablecoins, but acceptance, trust, and uneven payment experiences are holding them back. The article suggests that using linked cards for instant conversion and modern issuer-processing systems can help connect digital assets to existing payment tools used by merchants and their customers.