Stablecoin startups have been a hot commodity since the reelection of President Donald Trump in late 2024 ushered in a new era of crypto-friendly regulation.
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Mastercard
on Tuesday said it agreed to acquire BVNK, a London-based stablecoin infrastructure firm, for up to $1.8 billion. It’s the payment network’s biggest bet yet on the mainstreaming of digital currencies.
The deal includes $300 million in payments that are contingent on BVNK hitting certain performance metrics and is expected to close this year, Mastercard said in a statement.
The acquisition gives Mastercard, the world’s second-largest payment network after Visa
BVNK was previously in talks with the U.S. crypto exchange Coinbase for an acquisition price of about $2 billion.
Stablecoins have become a buzzy sector over the past year amid a red-hot IPO from the stablecoin giant Circle and recently passed…
Mastercard plans to buy a stablecoin infrastructure company, and analysts suspect it could provide a tailwind for the stock over…
Industry onlookers believe the fight may impact the bottom line of stablecoin giant Circle.
Senior Coinbase exec Jesse Pollak described the deal as a “holy crap” moment for the payments industry.
Chart analyst David Keller takes a look at Mastercard's charts.
