
Mastercard completes $1.8B BVNK acquisition
- Mastercard completed its acquisition of stablecoin infrastructure company BVNK in a deal worth up to US$1.8 billion.
- The acquisition adds BVNK's stablecoin payment infrastructure to Mastercard's global payments network.
- Mastercard plans to connect traditional currencies with stablecoins, tokenised deposits and other digital assets.
Mastercard completed its acquisition of stablecoin infrastructure provider BVNK, following a deal valued at up to US$1.8 billion.
Mastercard agreed in March to pay up to US$1.8 billion, including US$300 million in contingent payments.
BVNK processes billions of dollars annually and provides stablecoin payment infrastructure across more than 130 countries.
Mastercard said BVNK will help connect traditional payment systems with stablecoins, tokenised deposits and tokenised assets.
Mastercard has also announced stablecoin settlement support for assets including USDC (CRYPTO:USDC) and PayPal USD (CRYPTO:PYUSD).
The company has expanded this infrastructure across networks including Ethereum (CRYPTO:ETH), Solana (CRYPTO:SOL) and XRP Ledger (CRYPTO:XRP).
At the time of reporting, Ethereum price was $1,857.07.