The stablecoin infrastructure provider and the modern card issuing platform partner to build a new generation of payment card products

BVNK and Marqeta, Inc. (NASDAQ:MQ) today 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. Together, the companies are unlocking stablecoin spendability to allow users to transact in digital dollars at millions of merchants globally with a standard payment card.

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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 as 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 will help 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. The partnership gives Marqeta customers access to stablecoin infrastructure without having to build and operate it themselves. This can be even more powerful with attached card credentials that allow users to spend wherever Mastercard is accepted.

"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."

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.

Marqeta and BVNK will speak about stablecoin-backed cards and how the partnership is bringing value to the ecosystem today at Stablecon, the world’s leading stablecoin conference, in Washington DC. Find more information here.

About BVNK

BVNK powers the stablecoin-powered financial stack for enterprises. Build financial products, unlock new markets, and move money in seconds across 130+ countries. Trusted by industry leaders like Corpay, Worldpay, Deel and Flywire and processing billions annually.

About Marqeta, Inc

Marqeta makes it possible for companies to build and embed financial services into their branded experience—and unlock new ways to grow their business and delight users. The Marqeta platform puts businesses in control of building financial solutions, enabling them to turn real-time data into personalized, optimized solutions for everything from consumer loyalty to capital efficiency. With compliance and security built-in, Marqeta’s platform has been proven at scale, processing nearly $400 billion in annual payments volume in 2025. Marqeta is certified to operate in more than 40 countries worldwide and counting. Visit www.marqeta.com to learn more.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to the planned partnership between BVNK and Marqeta, including the responsibilities of each party and of third-party beneficiaries of that partnership, the benefits of that partnership for each of BVNK and Marqeta, and the benefits of that partnership for the customers of each of BVNK and Marqeta; and statements made by each of BVNK’s and Marqeta’s senior leadership. In some cases, these forward-looking statements can be identified by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including those risks and uncertainties included in the "Risk Factors" disclosed in Marqeta’s Annual Report on Form 10-K, as may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.

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