Mastercard agrees to acquire BVNK in $1.8B stablecoin deal

Mastercard agreed to acquire BVNK for up to $1.8 billion as it expands further into stablecoin and blockchain-based payments.

Mastercard has agreed to acquire stablecoin infrastructure company BVNK in a deal valued at up to $1.8 billion, further expanding into blockchain-based payments.

The deal includes up to $300 million in contingent payments and is intended to strengthen Mastercard’s ability to connect fiat payment rails with onchain transactions, the company said on Tuesday.

“We expect that most financial institutions and fintechs will in time provide digital currency services, be it with stablecoins or tokenized deposits,” Jorn Lambert, chief product officer at Mastercard, said.

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