Marqeta and BVNK announced a partnership on September 9, 2026 to deliver stablecoin-backed card capabilities to crypto-native and non-crypto companies. Marqeta takes issuance, acceptance and the bank and network relationships, while BVNK supplies the stablecoin infrastructure that Mastercard has owned since it completed its acquisition of the business in August 2026. The companies named no launch date.

What the companies announced

The release describes “a partnership to deliver stablecoin-backed card capabilities to crypto-native and non-crypto companies.” The division of work is explicit: Marqeta will manage card issuance, acceptance and the bank and network relationships, and BVNK’s stablecoin infrastructure sits behind the funding of the card. That infrastructure has been part of Mastercard since the acquisition closed on August 3, 2026.

Both companies gave their own scale figures. Marqeta “processed nearly $400 billion in annual payments volume during 2025,” and BVNK reports more than $39 billion in annualized payment volume, according to the release. Anthony Peculic, Marqeta’s chief strategy officer, said the aim is “stablecoin-backed cards that work anywhere cards are accepted,” without merchants changing how they accept payments.

What it means for card programs

The partnership adds a funding source to an existing issuing stack rather than a new acceptance scheme. A program can let a cardholder spend against a stablecoin balance while the merchant sees an ordinary card transaction, which is the part a fintech would otherwise have to build itself: custody of the balance, conversion at authorization, and a bank willing to sponsor the program.

For product teams, this lands in familiar territory. The mechanics of debit card issuing do not change, and neither does virtual card issuance; the funding account behind the card does. Our Marqeta profile covers the issuer processor’s platform and program model, and the cards news archive follows the rest of the issuing market.

What to watch

  • Program details. The release names no launch date, no issuing banks and no pricing, so the first live programs will show what the partnership actually supports.
  • Mastercard’s role. BVNK’s infrastructure now sits inside a card network, which is also where Marqeta’s network relationships lead.