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Marqeta Expands into 30 More European Markets with Banking Circle Partnership

Prime Highlights

  • Marqeta’s total processing volume for European card programmes grew eightfold between 2022 and 2025, reflecting strong regional momentum ahead of this expansion.
  • The platform’s SEPA Instant capability moves money across 40 or more European countries in under ten seconds, operating around the clock every day of the year.

Key Facts

  • Marqeta is a NASDAQ-listed card issuing platform that processed nearly $400 billion in annual payments volume in 2025 and operates in over 40 countries.
  • Banking Circle is a global bank licensed in Luxembourg, specialising in making cross-border payments faster and more accessible for businesses.

Background

Marqeta’s card issuance platform has now extended its accounts and transactions features to 30 other European nations through an agreement with Banking Circle, which is a global bank based in Luxembourg. With such a development, companies in Europe will be able to incorporate virtual banking accounts and payment systems in their card programs.

This region showed tremendous growth. From 2022 through 2025, there was an eightfold increase in Marqeta’s total card program processing volumes in Europe. In 2025, the company also purchased TransactPay, which brought comprehensive program management and licensed e-money features, such as virtual accounts with several currencies and international payments for both consumer and business card programs.

As mentioned by Anthony Peculic, interim Chief Product Officer at Marqeta, one of the important growth markets for the firm is Europe. He added that a single platform covering card issuing, account management, and money movement gives businesses the simplicity and flexibility to launch and scale their programmes more efficiently.

According to Mikkel Gronlykke, the President of Banking Circle, such an alliance is an excellent basis for the creation of financial instruments and money optimisation using fully functional bank accounts combined with the existing proven system of card issuance.

Among the new product characteristics, there are virtual bank accounts tied up to debit cards with support for several currencies, fast payments enabling near real-time payment processing in the United Kingdom, and SEPA instant payments, which can transfer funds between 40 or even more members in less than ten seconds. The platform complies with all regulations for Europe, namely PSD2 and GDPR, among others.