Mastercard has agreed to acquire stablecoin infrastructure firm BVNK for up to $1.8 billion, with $300 million tied to performance targets. The deal would give Mastercard a direct way to plug BVNK’s onchain payment infrastructure into its global fiat network as the company expands deeper into blockchain-based settlement and digital currency services.
The stated goal is to let financial institutions and fintech firms move more easily between traditional payment rails and blockchain systems. Mastercard said the combination is meant to support cross-border transfers, business payments, and real-time payouts. The acquisition remains subject to regulatory approval and is expected to close before year-end.
BVNK brings blockchain payment infrastructure across more than 130 countries
Founded in 2021, BVNK provides infrastructure that allows businesses to send and receive payments across major blockchain networks in more than 130 countries. Its system handles stablecoin flows alongside fiat, giving companies flexibility in how transactions are settled.
Mastercard said it wants to combine blockchain-based rails with its existing network while preserving compliance, security, and reliability standards. In its description, the result is interoperability: transactions can move across different rails without adding friction.
Chief Product Officer Jorn Lambert said most financial institutions and fintechs are expected over time to offer digital currency services, whether through stablecoins or tokenized deposits. He said adding onchain rails to Mastercard’s network would support speed and programmability across nearly every transaction type.
Competition for stablecoin infrastructure is getting tighter
Mastercard cited Boston Consulting Group data showing stablecoin volumes reached at least $350 billion in 2025. As those volumes grow, payment companies and financial institutions are looking for ways to integrate digital currencies into existing services without rebuilding core infrastructure. Control over that connection layer is becoming strategically important.
BVNK had already attracted acquisition interest. The report said Coinbase had previously explored a deal worth roughly $2 billion, but those talks ended in November. Earlier reports also said multiple bidders had evaluated the company, with valuations ranging from $1.5 billion to $2.5 billion.
The acquisition also follows other large deals in the sector. Stripe bought Bridge for $1.1 billion in 2024, adding to the sense that payment providers are competing for the infrastructure layer that links blockchain settlement with real-world financial activity.
Mastercard is targeting broader financial use cases
Beyond payments, Mastercard pointed to capital markets and treasury operations as areas where faster settlement and programmable transactions could cut delays and manual processes found in traditional systems. If the deal closes, Mastercard’s digital asset footprint will expand again. The company said it has already built partnerships with more than 85 crypto firms focused on remittances, settlement, and payouts.
For BVNK, the acquisition would open access to Mastercard’s global distribution network. For Mastercard, it adds a technology layer that could help bring stablecoins into everyday financial services without forcing users to leave existing payment ecosystems.