Mastercard has announced the acquisition of infrastructure startup BVNK, which develops stablecoin solutions. The deal is valued at up to $1.8 B, including as much as $300 M in contingent payments, though the exact payment structure has not been disclosed.
Earlier, BVNK had been in talks with Coinbase over a potential acquisition, with the deal estimated at around $2 B at the time. However, those discussions were terminated in November 2025.
Expansion Into The Stablecoin Segment
Mastercard is strengthening its position in crypto payments, moving toward stablecoin infrastructure, which already accounts for a significant share of transaction activity.
Mastercard’s Chief Product Officer, Jorn Lambert, described the company’s approach as an effort to connect traditional payment rails with stablecoin settlements without abandoning the existing card model.
What Mastercard Gains
Founded in 2021, BVNK develops on-ramp infrastructure and operates in more than 130 countries, enabling stablecoin transactions — from sending and receiving to conversion.
The acquisition gives Mastercard a ready-made technology stack and access to crypto payment flows, allowing the company to accelerate its entry into the segment without the need for in-house development or a lengthy compliance process.