Mastercard has agreed to buy BVNK, a stablecoin infrastructure company, for up to $1.8 billion, in a bid to boost its use of digital assets for international payments.
By integrating BVNK’s technology, Mastercard aims to connect blockchain payments to its global network, enabling use cases such as cross-border transfers, remittances and business-to-business payments, the company announced on Tuesday.
BVNK provides the technology to bridge traditional fiat systems with blockchain-based transactions, enabling businesses to transfer money in seconds in over 130 countries. Its infrastructure, used by companies including Worldpay, Deel and Flywire, processes $30 billion a year, the UK-based company said in a blog post.
BVNK’s capabilities complement Mastercard’s existing card network, expanding money transfer options both between traditional fiat systems and blockchain-based rails, investment bank William Blair said in a note.
“We view Mastercard’s acquisition of BVNK as further confirmation of the stable cross-border commerce market, rather than B2C payments, which are well served by card,” the bank said.
The acquisition also highlights Mastercard’s growing push into digital assets as adoption of stablecoins – digital tokens whose value is tied to a conventional financial asset – accelerates. Last week, it announced its Crypto Partner Program, which brings together more than 85 companies in the digital assets and payments industry with the aim of connecting blockchain technology more directly to the infrastructure that underpins global commerce.
“We anticipate that most financial institutions and fintechs will eventually provide digital currency services,” Jorn Lambert, Mastercard’s chief product officer, said in a statement. The deal will help bring “the benefits of token money to the real world.”
These capabilities complement Mastercard’s existing card network, expanding money transfer options both between traditional fiat systems and blockchain-based rails, investment bank William Blair said in a note.
Stablecoin payment volumes have reached at least $350 billion in 2025, according to the company, with increasing regulatory clarity prompting banks and fintechs to explore offerings related to tokenized deposits and blockchain-based money movement.
The deal comes several months after Coinbase ended $2 billion acquisition talks with the stablecoin startup. At the time, a Coinbase spokesperson declined to give a reason for the failed negotiations.
The transaction, which is subject to regulatory approvals, is expected to be completed before the end of the year.
UPDATE (March 17, 12:45 UTC): Adds transaction details, context from third paragraph, Coinbase’s approach to sixth.
UPDATE (March 17, 3:56 p.m. UTC): Adds investment analysis, quote from investment banker William Blair.
