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Marqeta deal size jumps 90% as enterprise push gains ground. By PYMNTS | August 4, 2026 Highlights Enterprise momentum accelerated as Marqeta said the average size of new deals signed during the quarter increased more than 90% year over year, reflecting a shift toward larger embedded finance programs. Management said stablecoin-backed cards are emerging from exploratory discussions into active customer demand, particularly for cross-border payouts and multinational banking platforms. Despite some moderation in specific customer programs, Marqeta said lending and BNPL remain among its fastest-growing businesses. Marqeta's second-quarter earnings call Tuesday (Aug. 4) highlighted embedded finance, multinational issuing, stablecoins and commercial payments as the company's primary strategic growth initiatives, even as overall growth is expected to moderate in the second half. CEO Mike Milotich said customers want a single platform spanning card issuing, money movement, embedded banking capabilities and fraud decisioning rather than stitching together multiple provider. "Our momentum this quarter highlights three ways this differentiation is translating into growth," Milotich said, pointing to multinational card issuing, a broader product suite that now includes stablecoin-backed card capabilities and growing traction with larger enterprise customers. He noted that the average deal signed during the quarter increased more than 90% from a year earlier as Marqeta expands from serving high-growth FinTechs into winning larger embedded-finance programs with established enterprises. Marqeta also detailed its expansion into stablecoin-backed card programs through partnerships with Zero Hash and BVNK, along with participation in the OpenUSD initiative. "Our strategy here is straightforward," Milotich told, analysts, which is "to make digital dollars spendable through the same trusted card rails our customers and users already utilize on a daily basis." Analysts pressed management on whether the initiative reflects actual customer demand or simply preparation for a future market. Milotich said the answer is both. "I would say there's a lot of exploratory discussion," he said, particularly among businesses making cross-border payouts and companies building multinational banking offerings. He also noted that Marqeta already has experience supporting crypto-backed cards through existing relationships with Coinbase in the United States and Panda in Europe. BNPL evolves beyond virtual cards. Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks! Executives described current changes as an evolution in how buy now, pay later (BNPL) transactions are delivered. The company said one major customer has shifted more spending toward flexible credential products while distributing some traditional single-use virtual card volume among multiple providers. Although that will slow reported growth, Milotich argued Marqeta retained the more strategic part of the business. "If there's a trade-off to be made, we feel like this is a good one," he said, noting the company still expects lending, including BNPL, to grow more than 30% during the second half despite tougher comparisons. Flexible credentials, he said, are becoming the stickier, faster-growing product as BNPL providers expand beyond one-time virtual cards into longer-term payment relationships. Management also said it is not seeing meaningful changes in consumer spending behavior, providing some reassurance that payment volumes remain fundamentally healthy heading into the second half of the year. Looking beyond debit. The company is also focusing on additional money movement capabilities beyond cards, integrating fraud decisioning with richer merchant data. Milotich also outlined a longer-term vision for credit in which issuers match consumers with multiple financial products instead of rejecting applicants who fail to qualify for premium rewards cards. "We're talking to them about a much more holistic offering," he said, describing a future where companies can steer applicants toward credit-builder products, BNPL options or revolving credit using a unified technology platform instead of separate systems. Because Marqeta supports debit, credit, commercial products and multinational issuing from a single technology stack, he argued the company can offer a broader portfolio than competitors focused on individual products. Processing volume reached $120 billion, increasing 32%, marking the fourth consecutive quarter above 30% growth. At the same time, executives acknowledged that diversification of Cash App card issuance, changing BNPL transaction mix and tougher year-over-year comparisons will temper reported growth over the remainder of 2026. Shares were flat in after-hours trading.

Mastercard closes $1.8B BVNK deal to expand stablecoins. Mastercard has completed its $1.8 billion acquisition of stablecoin infrastructure firm BVNK, combining its global payments network with BVNK's onchain technology to expand stablecoin payments, settlements, and cross-border transfers. Mastercard completes BVNK buyout. Mastercard has closed its $1.8 billion acquisition of BVNK, a London-based stablecoin infrastructure firm, marking one of the largest moves by a traditional payments network into the digital currency space. The deal closed on August 3, 2026, adding stablecoin infrastructure that moves $30 billion a year across 200-plus markets. The transaction values BVNK at $1.5 billion, with a further $300 million earnout bringing total consideration to $1.8 billion. Mastercard first announced the agreement on March 17, 2026, and guided toward a year-end close, but regulators cleared the deal well ahead of that target. The acquisition expands Mastercard's strategy to support greater choice in how people and businesses exchange value by enabling interoperability across fiat and digital currencies. "Digital currencies, particularly stablecoins, are increasingly addressing real-world needs in areas like cross-border B2B payments, remittances, payouts, settlement and treasury flows," said Jorn Lambert, chief product officer at Mastercard. What BVNK brings to the table. BVNK launched in 2021 to solve a narrow commercial problem: businesses wanted stablecoin settlement without abandoning bank accounts and card rails. The platform now processes roughly $30 billion in annualized payment volume. BVNK supports more than 150 currencies across 200 countries and territories, with enterprise customers including Worldpay, Deel, Rapyd, Flywire, and Visa Direct using the platform for cross-border payouts, treasury movement, and merchant settlement. With the deal, Mastercard becomes the first large publicly listed payments network to buy its way into stablecoin infrastructure rather than partner into it. The deal signals a clear bet that stablecoins will move beyond crypto niches to become part of mainstream payment plumbing, with Mastercard positioning itself as an orchestration layer across fiat, stablecoins, and tokenized money. One of the projects Mastercard and BVNK will work on is Open USD, a bank and payment company-backed stablecoin expected to launch later this year. Existing BVNK customers will continue using the same products and integrations following the close. (Advertisement)

Mastercard completes BVNK acquisition in stablecoin push. August 3, 2026 Updated:August 3, 2026 No Comments 4 Mins Read Mastercard has accomplished its acquisition of stablecoin infrastructure supplier BVNK, bringing on-chain fee expertise into its world community. * Mastercard finalized the as much as $1.8 billion acquisition first introduced in March. * BVNK connects fiat and blockchain networks for funds, settlement, payouts, and treasury flows. * The deal expands Mastercard's capability to assist stablecoins and tokenized property alongside conventional currencies. * Mastercard can also be backing Open USD and growing stablecoin funds for autonomous AI brokers. Mastercard closes deal for BVNK. Mastercard confirmed on Aug. 3 that it had accomplished the acquisition of BVNK, increasing its infrastructure for transferring worth between fiat currencies and digital property. The funds firm first introduced the settlement in March, valuing the transaction at as much as $1.8 billion, together with $300 million in contingent funds. BVNK gives the underlying infrastructure for companies and monetary establishments to carry, transfer, handle, and convert cash throughout conventional banking techniques and blockchain networks. Its APIs assist stablecoin funds, cross-border transfers, payouts, settlements, and treasury operations. Mastercard stated integrating that expertise will assist join fee techniques that presently function throughout separate fiat and blockchain rails. "Digital currencies - significantly stablecoins - are more and more addressing real-world wants in areas like cross-border B2B funds, remittances, payouts, settlement and treasury flows," Mastercard chief product officer Jorn Lambert stated. Lambert added that the corporate expects fiat currencies, stablecoins, tokenized deposits, and different types of worth to coexist inside a linked fee system. Why BVNK strengthens Mastercard's stablecoin enterprise. The acquisition offers Mastercard direct management over infrastructure that companies can use to maneuver between fiat cash and blockchain-based property. That would assist the cardboard community present stablecoin providers with out requiring purchasers to construct their very own on-chain techniques. BVNK operates from London and San Francisco and has spent years securing licenses in a number of jurisdictions. When Mastercard introduced the settlement in March, Lambert stated shopping for the corporate would permit it to enter the market sooner than growing comparable expertise internally. The platform's use instances lengthen past crypto buying and selling. Stablecoins can assist round the clock settlement, worldwide enterprise funds, remittances, and treasury transfers with out relying solely on conventional correspondent banking channels. BVNK beforehand acquired backing from Concentric, Tiger International, Haun Ventures, Visa Ventures, Citi Ventures, and Coinbase Ventures. "Once we first invested, stablecoins had been removed from the monetary mainstream," Concentric co-founder and managing associate Kjartan Rist stated. Rist stated the investor seen stablecoins as a chance to rebuild the infrastructure supporting world funds. Mastercard expands past conventional card funds. The BVNK deal kinds a part of a wider effort by Mastercard to safe a job in blockchain-based commerce. Mastercard joined Visa, Coinbase, and greater than 140 different companies in June to assist Open Customary, a consortium making ready to difficulty the dollar-pegged Open USD stablecoin. The proposed token will permit companies to mint and redeem Open USD with out charges or quantity limits, whereas taking part firms will share earnings from its reserves after administration prices. The consortium intends to make stablecoin funds cheaper and simpler to scale. Mastercard additionally launched Agent Pay for Machines in June with assist from greater than 30 firms, together with Coinbase, Ripple, BVNK, and the Solana Basis. The service is designed for autonomous software program brokers conducting high-volume, low-value transactions throughout playing cards and stablecoins. Mastercard stated customers can apply authorization controls and settlement circumstances to automated funds. Collectively, the initiatives place stablecoins as an extra fee rail inside Mastercard's community fairly than a separate system competing solely with playing cards. What comes subsequent for the BVNK integration. Mastercard should now combine BVNK's expertise, licenses, and enterprise relationships into its broader funds community. The corporate has not supplied an in depth rollout schedule or disclosed whether or not BVNK will proceed working below its present model. The transaction additionally provides one other main fee firm to the competitors over stablecoin infrastructure. Mastercard and Visa are each growing providers that join regulated monetary establishments with blockchain settlement techniques as U.S. guidelines give fee suppliers a clearer framework for utilizing dollar-backed tokens. Mastercard shares closed Monday at $570.97, down about 0.4%, suggesting the acquisition's completion produced little fast response from buyers.