BVNK Adds Stellar Network for Cross-Border Payments

BVNK has expanded its stablecoin settlement network by integrating the Stellar network. This move allows BVNK customers to use Stellar-based settlement routes in over 130 markets.

The integration comes seven weeks after Mastercard completed its $1.8 billion acquisition of BVNK on August 3, with $300 million contingent upon certain conditions. The choice of blockchain network for BVNK's settlement network is linked to Mastercard's strategy to expand its payments infrastructure.

BVNK claims that Stellar processed $55.6 billion in payments across 3.6 billion transactions in 2022, with an uptime of 99.99 percent and average settlement time of 5 seconds. Transaction fees were reportedly far below 1 cent.