Mastercard to buy stablecoin infra firm BVNK for up to $1.8 billion
· CNA · JoinRead a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST
March 17 : Mastercard said on Tuesday it would buy stablecoin payments infrastructure firm BVNK for up to $1.8 billion.
The acquisition underscores Mastercard's strategy to expand beyond traditional card networks and position itself at the center of emerging digital asset ecosystems, including stablecoins.
"We expect that most financial institutions and fintechs will, in time, provide digital currency services," said Jorn Lambert, Mastercard's chief product officer.
BVNK, founded in 2021, specializes in infrastructure to bridge between fiat and stablecoins. The platform enables sending and receiving payments on all major blockchain networks across more than 130 countries.
The deal includes $300 million in contingent payments, and is expected to close before the end of 2026.
Newsletter
Week in Review
Subscribe to our Chief Editor’s Week in Review
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app