BVNK alternative for stablecoin infrastructure

BVNK and Cybrid both help businesses move money with stablecoins and fiat through a single API. They share real overlap and differ in where each one is licensed, which corridors each one publishes, and who owns each platform today. This page is a factual side by side for teams evaluating stablecoin infrastructure for remittance flows and B2B cross-border payments.

Claims checked against the sources below on 13 November 2026. Where this page says a capability is not documented, it means not publicly documented at the time of writing. Spotted something out of date? Let us know and we will fix it.

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When to pick BVNK

• You need UK coverage under a direct FCA EMI authorisation, with GBP virtual accounts.
• You need EU coverage today under MiCA. BVNK's Malta entity (System Pay Services Malta Ltd) holds an MFSA MiCA and EMI authorisation, with EEA passporting, secured 16 February 2026.
• You need direct SEPA access for 24/7 instant euro payments. BVNK announced direct SEPA access on 8 January 2026.
• You want US coverage announced across all 50 US states (BVNK, 14 August 2025) under System Pay Services (US), Inc., NMLS ID 2531294.
• You want enterprise self-custody stablecoin infrastructure. BVNK's Layer1 product targets exactly that.
• You want a provider backed by Mastercard's balance sheet. BVNK joined Mastercard on 3 August 2026 and its product umbrella is now the Mastercard Global Money Platform.
• You want stablecoin-backed card infrastructure through BVNK's Marqeta partnership (announced 9 September 2026).

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When to pick Cybrid

• You move money in and out of Canada and need a provider directly registered with FINTRAC and under the RPAA. BVNK does not publicly list Canadian registrations.
• You serve remittance flows or B2B payouts into Latin America and want a provider that can also open US-domiciled bank accounts for your LATAM business customers, with no US entity required (Foreign US Accounts for businesses registered in Brazil, Colombia, Ecuador, Mexico, plus Canada, Nigeria, and the UK).
• You send US or Canada to India remittance volume. Cybrid runs a strong North America to India corridor with direct INR payouts into Indian bank accounts and UPI. BVNK does not publicly list an India corridor.
• You want a published payout corridor approach rather than a "contact us for the list" model.
• You want a vendor whose ownership is independent, not a subsidiary of a payment network.

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BVNK and Cybrid, side by side

Core positioning. BVNK is a stablecoin payments platform spanning payouts (Send), merchant payments (Receive), embedded wallets and global money accounts (Store), rewards on idle balances (Earn), and self-custody infrastructure (Layer1, launched June 2024). It is now operated under the Mastercard Global Money Platform (announced 15 October 2026). Cybrid is built around stablecoin and fiat payment orchestration for remittance and B2B cross-border flows across North America, LATAM, and the US and Canada to India corridor.

Fiat corridors. BVNK publishes support for GBP (FCA EMI), EUR (direct SEPA access, January 2026), and USD (Swift accounts, 2024). Local payouts in more than a dozen launch currencies are available via Mastercard Move, with BVNK's own materials saying expansion to 40 plus currencies is planned through 2027. Cybrid publishes its supported corridors, with a focus on US and Canada inbound and outbound, Foreign US Accounts for LATAM and selected other markets, and a direct India corridor with INR payouts and UPI.

Stablecoins. BVNK publicly supports USDC, PYUSD, and Open USD (OUSD, live on BVNK as of 6 November 2026). USDT is referenced in BVNK docs and customer stories; a canonical published list requires contacting BVNK. Cybrid supports USDC, USDT, and CADD (the Canadian dollar stablecoin).

Settlement and products. BVNK offers Layer1 for enterprise self-custody stablecoin operations, embedded wallets, merchant receive flows, and stablecoin card infrastructure through its Marqeta partnership. Cybrid operates fiat and stablecoin legs on a single orchestration API for cross-border payouts and remittance flows.

Licences and registrations. BVNK's UK entity (System Pay Services UK Ltd) is an authorised EMI regulated by the FCA. BVNK's Malta entity (System Pay Services Malta Ltd) is authorised as an EMI and CASP by the MFSA and secured a MiCA licence on 16 February 2026, with EEA passporting. BVNK's US entity (System Pay Services (US), Inc.) is FinCEN registered and licensed as a money transmitter or equivalent in various states, with coverage across all 50 US states announced 14 August 2025. BVNK does not publicly list Canadian licensing.

Cybrid is registered with FINTRAC as an MSB and is a registered PSP under the Retail Payment Activities Act in Canada. In the US, Cybrid provides accounts and payment services through licensed partner banks.

Ownership. BVNK joined Mastercard on 3 August 2026 following an acquisition announced 17 March 2026 at up to $1.8B. BVNK is now a Mastercard subsidiary and its product umbrella is the Mastercard Global Money Platform. Cybrid is an independent company.

Published customers. BVNK publicly references Deel, Worldpay, Corpay, dLocal, Xapo Bank, Highnote, LianLian Global, Deriv, and others. Cybrid serves regulated fintechs, remittance companies, and B2B payment platforms in the US and Canada.

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Where BVNK is ahead

• UK FCA EMI authorisation, held directly.
• Malta MFSA MiCA and EMI with EEA passporting, secured 16 February 2026.
• Direct SEPA access for 24/7 instant euro payments, January 2026.
• 50-state US coverage announced 14 August 2025, under the US entity's own NMLS licensing.
• Layer1 self-custody stablecoin infrastructure for enterprises.
• Stablecoin-backed card infrastructure through the Marqeta partnership (September 2026).
• Mastercard as parent, with access to Mastercard Move for local payouts across multiple currencies.
• Scale, with BVNK reporting $12B annualised stablecoin payment volume as of May 2025.

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Where Cybrid fits

• North American licensing on both sides of the border, including FINTRAC MSB and RPAA PSP registrations in Canada.
• Foreign US Accounts for LATAM businesses, letting your customers in Brazil, Colombia, Ecuador, and Mexico receive ACH and wire payments into real US domiciled accounts in their own legal name without forming a US entity. Canada, Nigeria, and the UK are also supported today.
• A strong US and Canada to India corridor, with direct INR payouts into Indian bank accounts and UPI, for remittance and B2B flows.
• A payment orchestration product built around cross-border payouts rather than enterprise self-custody or embedded wallets.
• A published payout corridor approach rather than a "contact us for the list" model.
• Independent ownership. Not a subsidiary of a payment network.

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Point by point

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FAQ

Is Cybrid a direct BVNK replacement? For remittance and B2B cross-border payout flows into North American or LATAM accounts, and for the US and Canada to India corridor, yes. For UK or EU flows requiring direct FCA or MiCA authorisation today, for enterprise self-custody infrastructure, or for stablecoin card programmes, BVNK covers ground Cybrid does not.

‍Does Cybrid hold its own US money transmitter licences? Cybrid operates its US payment rails through licensed partner banks that are regulated and supervised by US federal and state banking authorities.

‍Can Cybrid open US bank accounts for a business that is not US domiciled? Yes. Business customers registered in Brazil, Colombia, Ecuador, Mexico, Canada, Nigeria, or the UK can be onboarded into US domiciled accounts without forming a US entity.

‍What stablecoins does Cybrid support? USDC, USDT, and CADD.

‍Who owns Cybrid? Cybrid is an independent company and is not a subsidiary of a payment network.

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