Mastercard completes $1.8B BVNK acquisition in stablecoin push

Mastercard said the tie-up would help banks, fintechs and enterprises expand stablecoin payments, payouts, settlement and treasury services.Mastercard has completed its acquisition of stablecoin infrastructure company BVNK, closing a deal valued at $1.8 billion.On Monday, Mastercard said the acquisition combines its global network with BVNK’s onchain infrastructure to connect digital currencies with fiat currencies. The payments company said the combination would help institutions, fintechs and enterprises expand their use of stablecoins and tokenized assets across cross-border business payments, payouts, settlement and treasury flows. In a separate announcement, BVNK said it had officially become part of Mastercard, adding that customers would continue to use the same teams, products and integrations, with no action required. BVNK said the tie-up could allow banks to offer stablecoin payment services and connect customer accounts to wallets, while payment providers could enable round-the-clock merchant settlement.BVNK said Mastercard’s global reach would expand its card capabilities and international fund transfer services.Mastercard agreed to acquire BVNK for up to $1.8 billion i...