Mastercard Completes BVNK Acquisition for Blockchain Push

Mastercard has completed its acquisition of stablecoin infrastructure provider BVNK, bringing on-chain payment technology into its global network.

The payments company finalized the up to $1.8 billion deal first announced in March, which includes a $300 million contingent payment component.

BVNKS connects fiat and blockchain networks for payments, settlement, payouts, and treasury flows, expanding Mastercard's ability to support stablecoins and tokenized assets alongside traditional currencies.

'Digital currencies, particularly stablecoins, are increasingly addressing real-world needs in areas like cross-border B2B payments, remittances, payouts, settlement and treasury flows,' said Mastercard chief product officer Jorn Lambert.