Mastercard agrees to buy the stablecoin platform BVNK for up to $1.8 billion
The payment giant Mastercard moves forward to unite fiat money and cryptocurrencies with the acquisition of $1.8 billion of the British stablecoin startup.
What you need to know:
Mastercard agreed to acquire the UK-based stablecoin infrastructure company, BVNK, for up to $1.8 billion. The deal aims to link payments with on-chain stablecoins to Mastercard's global network for cross-border transfers, remittances, and business transactions. The acquisition, which follows failed negotiations between BVNK and Coinbase, underscores Mastercard's broader push into digital assets amid rising volumes of stablecoin payments and is expected to close before the end of the year, subject to regulatory approvals.
ETH
2,035.52
+1.16%