Marqeta and zerohash partner on stablecoin cards

Marqeta zerohash stablecoin cards are set to become part of Marqeta’s issuing platform under a collaboration the companies said will let financial platforms add stablecoin-backed card payments without rebuilding core systems. The arrangement links zerohash’s stablecoin infrastructure with Marqeta’s card issuing capabilities, extending the reach of digital dollar balances into standard card acceptance networks.

The companies said the partnership is designed for both crypto and non-crypto businesses that want to embed stablecoin payments into new or existing financial products. Marqeta, listed on Nasdaq under the ticker MQ, provides modern card issuing technology, while zerohash supplies infrastructure for crypto, stablecoins and tokenized assets used by financial institutions.

Under the model described by the companies, users would be able to spend digital dollar balances at tens of millions of merchants globally through a conventional payment card. Merchants would receive fiat currency, as they do in a typical card transaction, rather than needing to accept or hold a stablecoin directly.

How will stablecoin cards work?

A stablecoin card connects a user’s digital dollar balance to card rails, allowing spending at merchants that already accept payment cards. In this partnership, zerohash will handle custody, compliance and liquidity for onchain money movement, while Marqeta will oversee card issuance, acceptance, bank relationships and network connections, according to the companies.

That division of responsibilities is intended to make stablecoin spending available through existing card infrastructure. The companies said the integration will support real-time settlement and improved capital efficiency for platforms seeking to make stablecoin balances spendable.

The announcement comes as stablecoin activity has expanded across financial services. The companies cited monthly stablecoin transaction volume of $7.2 trillion in February 2026, compared with $6.8 trillion for the U.S. ACH network, and said stablecoins exceeded ACH monthly volume for the first time. Those figures were presented in the companies’ announcement.

zerohash also pointed to growth on its own platform. The company said its transaction volume rose 690% year over year in 2025, while transaction frequency increased 208%. It said its infrastructure already supports instant global payouts for platforms including Gusto and Worldpay, as well as real-time account funding for Interactive Brokers, Kalshi and tastytrade.

Marqeta said it has previously supported crypto-focused companies with debit card programmes in the United States and Europe. Those offerings allow users to spend in fiat currency based on crypto holdings and receive rewards in crypto, according to the companies. Marqeta’s platform processed nearly $400 billion in payment volume in 2025.

Anthony Peculic, Marqeta’s interim chief product officer, said the zerohash integration would help Marqeta customers deliver multinational and stablecoin-backed card programmes while meeting compliance requirements. Edward Woodford, zerohash’s founder and chief executive, said connecting stablecoins with traditional payment networks would make onchain money more usable in everyday payments and money movement.

The companies did not disclose financial terms for the collaboration.

This story draws on original reporting from Finextra Research.