Mastercard has struck a deal to buy stablecoin infrastructure firm BVNK for up to $1.8 billion, according to a press release on Tuesday, March 17. The deal includes $300 million in contingent payments and is expected to close before year-end, pending regulatory approval.
The acquisition is designed to integrate BVNK's on-chain payment rails directly into Mastercard's global fiat network, enabling use cases across cross-border transfers, remittances, and business-to-business payments. Mastercard said the deal would allow financial institutions and fintechs to offer services spanning stablecoins, tokenized deposits, and tokenized assets.
"We expect that most financial institutions and fintechs will in time provide digital currency services, be it with stablecoins or tokenized deposits," said Jorn Lambert, Mastercard's chief product officer.
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