Thredd and Bakkt plan a U.S. stablecoin-settled credit card program
The planned proof of concept would combine Thredd’s card-processing infrastructure with Bakkt’s stablecoin settlement rails, but the program is not yet live.
Thredd and Bakkt announced October 13 that they are developing a credit card-as-a-service program in the United States that would settle using stablecoins. The companies are targeting an initial proof of concept for the first half of 2027.
Thredd would provide issuer-processing infrastructure, including card controls, tokenization, fraud management and wallet integration. Bakkt would provide the stablecoin settlement rails, according to the announcement.
The proposed structure could let a card program settle obligations through digital-dollar rails while keeping the consumer-facing experience familiar. The operational details matter: settlement asset, conversion timing, reserve and redemption arrangements, issuer responsibilities and treatment of failed or disputed transactions would all affect the economics and risk of the program.
The initiative is not yet live. It remains subject to regulatory, bank and network approvals, and neither company has announced a retail launch, card issuer, stablecoin denomination or consumer pricing. The proof-of-concept target should not be read as a completed product launch.