Mastercard acquires stablecoin infrastructure startup BVNK for up to $1.8 billion, signaling major traditional finance backing for blockchain payments.
DeFi & Yields ·
Mastercard has agreed to acquire BVNK, a stablecoin infrastructure company, for up to $1.8 billion, according to reporting by Bloomberg. The deal marks a significant move by the payments giant into blockchain-based settlement and stablecoin infrastructure.
The acquisition comes as Mastercard has been expanding its crypto capabilities. The company recently obtained a New York BitLicense to operate stablecoin and tokenized deposit services, signaling regulatory approval for traditional finance players to offer blockchain-based financial services. Mastercard is also reportedly preparing to collaborate with Stripe and Visa on a joint stablecoin platform, with potential involvement from Coinbase.
The full structure and timeline of the BVNK acquisition—including any earnout conditions tied to the $1.8 billion valuation and the regulatory pathway for integrating BVNK's infrastructure into Mastercard's operations—remain to be detailed.