Mastercard To Acquire Stablecoin Infrastructure Firm BVNK For $1.8 Billion

Mastercard has announced an agreement to acquire London-based stablecoin infrastructure firm BVNK for up to $1.8 billion, in what represents the largest stablecoin-related acquisition to date.

The deal, which includes $300 million in performance-contingent payments, eclipses Stripe's $1.1 billion acquisition of Bridge in February 2025 and signals a major shift in how traditional payment networks view blockchain-based settlement.

BVNK specialises in bridging fiat and blockchain systems, enabling businesses to move funds across both environments in more than 130 countries. The company processes approximately $30 billion annually and counts Worldpay, Deel and Flywire among its clients.

The acquisition follows failed talks between BVNK and Coinbase, with those negotiations reportedly falling apart around four months ago.

Mastercard is framing the deal as complementary to its existing card infrastructure rather than a pivot away from traditional rails. Jorn Lambert, Mastercard's Chief Product Officer, said: "We want to support them and their customers with a best in class, highly compliant, interoperable offering that brings the benefits of tokenized money to the real world."

The move comes as rival Visa has also been expanding its stablecoin capabilities, having launched a Stablecoins Advisory Practice in December and expanded cross-border capabilities in March.

The transaction is expected to close by year-end, subject to regulatory approvals.