Marqeta & zerohash link stablecoins to card payments

Marqeta and zerohash have agreed on a partnership to enable payment cards backed by stablecoin balances. The arrangement is designed to let users spend digital dollar balances through existing global card networks.

The integration will allow Marqeta customers to add stablecoin payments to existing financial products without replacing core systems. Under the arrangement, zerohash will provide custody, compliance and liquidity for on-chain money movement, while Marqeta will handle card issuing, acceptance, and bank and network relationships.

Users will be able to spend stablecoin balances at merchants using a standard payment card, while merchants will continue to receive fiat currency through the card networks. In effect, the change targets the funding source behind the card transaction rather than the checkout experience.

The tie-up reflects a broader push to bring stablecoins into mainstream payments after years in which digital dollar tokens were used mainly for trading, transfers and settlement. By linking those balances to conventional card rails, the companies aim to turn a form of digital cash into something consumers and businesses can use more easily for day-to-day spending.

Industry data cited by the companies points to rapid growth in the sector. Stablecoin monthly transaction volume reached USD $7.2 trillion in February, compared with USD $6.8 trillion for the US ACH network, according to the figures referenced.

zerohash said activity on its platform also rose sharply, with transaction volume up 690% year on year in 2025 and transaction frequency up 208%. The company already supports global payouts for clients including Gusto and Worldpay, and account funding for Interactive Brokers, Kalshi and tastytrade.

Marqeta brings an established card-issuing business to the partnership. Its platform processed nearly USD $400 billion in payments volume in 2025, and it operates in more than 40 countries.

The group has also worked with crypto-focused card programmes in the US and Europe, where users spend in fiat currency based on crypto holdings and can receive rewards in crypto. The new arrangement extends that model to stablecoins and opens it to businesses beyond crypto-native firms.

Payments link

A key part of the structure is the division of responsibilities between the two companies. zerohash will manage the regulated infrastructure for holding and moving stablecoin balances, while Marqeta connects those balances to the card ecosystem already used by consumers and merchants.

That approach may appeal to financial technology groups and other platforms that want to offer stablecoin-linked spending without building their own crypto infrastructure. It also addresses a practical barrier to wider stablecoin use: converting digital balances into a payment method accepted at the point of sale.

Anthony Peculic, Interim Chief Product Officer at Marqeta, said the partnership was intended to help customers create card programmes that support international use and stablecoin funding.

"Our customers are building the next generation of financial products, and that requires new ways to manage and move money," said Anthony Peculic, Interim Chief Product Officer at Marqeta. "By integrating with zerohash, we will be able to give our customers a full solution to deliver multinational and stablecoin-backed card programs that meet the needs of their users, while also being compliant and ready for global scale."

For zerohash, the deal is part of a broader effort to place stablecoins inside established financial products rather than keep them within separate crypto systems. The company has positioned itself as a back-end provider for businesses seeking exposure to digital assets, tokenised assets and cross-border money movement.

Edward Woodford, Founder and Chief Executive Officer of zerohash, said compatibility with traditional payment networks was central to making stablecoin balances more useful in everyday settings.

"Compatibility between stablecoins and traditional payment networks is a critical unlock for users' onchain money, while also opening new opportunities for traditional businesses through stablecoin-backed cards," said Edward Woodford, Founder and Chief Executive Officer of zerohash. "zerohash's role is to abstract the complexity behind the scenes so stablecoins can be leveraged as a seamless part of everyday payments and money movement."