Mastercard says it's acquiring stablecoin startup BVNK in $1.8 billion bet on future of payments

In a significant shift towards digital currencies, Mastercard announced on Tuesday its agreement to acquire BVNK, a stablecoin infrastructure company based in London, for a total of up to $1.8 billion. This strategic move marks Mastercard's most substantial investment in the growing realm of digital payments. As part of the acquisition deal, $300 million is tied to BVNK achieving specific performance targets, with the transaction anticipated to finalize within this year. This acquisition empowers Mastercard—the second-largest payment network globally after Visa—to bridge traditional payment systems with innovative blockchain technologies. Mastercard envisions a future where financial institutions and fintech companies widely offer digital currency services. Jorn Lambert, the company’s Chief Product Officer, expressed confidence in the integration of stablecoins and tokenized deposits into mainstream payment systems as their usage expands over the coming years. Founded in 2021, BVNK has positioned itself as a key player in the blockchain space, claiming to facilitate transactions across major blockchain networks in over 130 countries. The startup has seen its valuation soar above $750 million, especially following the recent wave of crypto-friendly regulations that emerged after the reelection of President Trump in late 2024. BVNK had previously attracted interest from other industry giants, including Coinbase, before ultimately aligning with Mastercard. In addition, Mastercard had shown interest in acquiring another crypto entity, Zerohash, earlier this year, indicating its commitment to expanding its footprint in the digital currency landscape.