Mastercard announced it will acquire stablecoin payments infrastructure firm BVNK for up to $1.8 billion. The deal reflects Mastercard's push to expand beyond traditional card networks and into digital asset ecosystems.
Jorn Lambert, Mastercard's chief product officer, stated that financial institutions and fintechs will increasingly offer digital currency services.
BVNK, founded in 2021, provides infrastructure to connect fiat and stablecoins, enabling cross-border payments on major blockchain networks across 130 countries.
The acquisition includes $300 million in contingent payments and is expected to close by late 2026.