Mastercard has completed its acquisition of stablecoin infrastructure firm BVNK to advance its ability to connect crypto assets and traditional payment rails.
In a statement released Monday, Mastercard said it will leverage BVNK's technology and expertise to help financial institutions, fintechs and enterprises scale use cases involving stablecoins and tokenized assets.
Those use cases include business-to-business payments, payouts, settlement, and treasury flows.
While Mastercard did not disclose the final financial terms of the deal, it said in March that it had agreed to acquire BVNK for up to $1.8 billion.
The Block has reached out to Mastercard for further information.
