Mastercard Dives into Stablecoins with Record-Breaking $1.8B Acquisition

Mastercard has entered the stablecoin market in a big way by acquiring BVNK for $1.8 billion, marking one of its largest crypto-infrastructure deals yet.

The payments giant completed the acquisition on August 3, valuing BVNK at $1.5 billion with an additional $300 million in potential earnout payments tied to performance targets.

BVNk provides infrastructure for businesses and financial institutions to move between traditional currencies and stablecoins, having raised over $90 million and reported annualized payment volume of $30 billion before the acquisition.