Mastercard closes up to $1.8 billion BVNK acquisition

Mastercard has completed its acquisition of BVNK, bringing the stablecoin payments company's on-chain settlement and wallet infrastructure into its global network. The final purchase price was not disclosed at closing, though the transaction was announced in March with a valuation of up to $1.8 billion, including $300 million in contingent payments. The deal gives Mastercard direct control of stablecoin settlement infrastructure and operational access to a platform processing roughly $30 billion in annualized stablecoin payment volume across 130 markets. Founded in 2021, BVNK provides businesses with infrastructure to send, receive, store and convert funds between fiat currencies and blockchain networks. Mastercard said existing BVNK clients will continue using the same products, integrations and support teams and do not need to take immediate action. Mastercard chief product officer Jorn Lambert said digital currencies, particularly stablecoins, are increasingly addressing real-world needs. Mastercard expects the combined platform to help banks connect customer accounts with digital wallets and give payment service providers 24/7 merchant settlement, strengthening its broader push into cross-border B2B payments, payouts, settlement and treasury flows.