Mastercard has agreed to acquire stablecoin infrastructure firm BVNK for up to $1.8 billion, marking a significant move to further its expansion in the blockchain payments space.
"We expect that most financial institutions and fintech companies will eventually offer digital currency services, whether through stablecoins or tokenized deposits," said Jorn Lambert, Chief Product Officer at Mastercard.
Founded in 2021, BVNK provides the infrastructure that enables businesses to send and receive payments across major blockchain networks in over 130 countries globally. Its platform is designed to bridge fiat currencies and stablecoins, supporting various use cases such as cross-border payments, payouts, and commercial transactions.
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