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Payments giant Mastercard moves to bridge fiat and crypto with $1.8 billion acquisition of the U.K. based stablecoin startup.
Mastercard declared on Tuesday that it has reached an agreement to acquire BVNK, a stablecoin infrastructure firm, for a total of up to $1.8 billion, which includes $300 million in performance-based payments.
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This acquisition enhances Mastercard’s comprehensive support for digital assets and the transfer of value across different currencies, platforms, and geographical areas.
Based in the U.K., BVNK positions itself as the financial infrastructure powered by stablecoins for businesses, facilitating money transfers in seconds across over 130 nations.
The company’s infrastructure is already utilized by firms such as Worldpay, Deel, and Flywire, processing billions of dollars each year.
