Mastercard Acquires UK Stablecoin Infrastructure Firm BVNK for $1.8 Billion

According to Mastercard's announcement, the payment giant has acquired BVNK, a UK-based fintech startup specializing in stablecoin infrastructure, for $1.8 billion. BVNK provides stablecoin payment services across over 130 countries and holds payment licenses in numerous jurisdictions.

Mastercard plans to integrate BVNK's technology into its international money transfer platform, Mastercard Move, to enable faster and lower-cost stablecoin-based transactions. The company has also halted its previous strategic investment plan in cryptocurrency firm Zerohash, opting instead for the direct acquisition of stablecoin infrastructure.