Payments giant Mastercard announced a definitive agreement to acquire stablecoin infrastructure provider BVNK for $1.8 billion, including $300 million in contingent payments. This major acquisition is intended to expand Mastercard’s support for digital assets and real-world use cases like cross-border payments. The move follows last week’s launch of a crypto partner program involving industry leaders like Ripple and Binance.
Mastercard has announced a definitive agreement to acquire the stablecoin infrastructure provider BVNK for $1.8 billion. The deal will include $300 million in contingent payments.
The acquisition aims to expand Mastercard’s end-to-end support of digital assets. It focuses on real-world use cases such as cross-border remittances and business-to-business transactions.
“We expect that most financial institutions and fintechs will, in time, provide digital currency services, be it with stablecoins or tokenized deposits,” commented Jorn Lambert, Chief Product Officer at Mastercard. The company stated it wants to support clients with a compliant and interoperable offering.
BVNK CEO Jesse Hemson-Struthers described the deal as a major milestone for the industry. He said it would help define the future of money by combining complementary technologies.
The move aligns with Mastercard’s broader push into digital assets. Last week, the company tapped Ripple, Binance, PayPal, and Circle for a new Crypto Partner Program.
That program is designed to connect blockchain with Mastercard’s global payments infrastructure. It seeks to offer a chain-agnostic and asset-agnostic infrastructure for clients.
