Mastercard agreed on 17 March to acquire BVNK, a London-based provider of stablecoin payment infrastructure, in a deal worth up to US$1.8bn, including US$300m contingent on meeting certain goals.
Why Mastercard Incorporated is buying BVNK
Mastercard said it would use BVNK's technology to build a bridge between stablecoins and fiat currencies and to enable faster settlement, including on card rails. BVNK said it would add stablecoin capabilities across Mastercard's payment endpoints, 24-hour stablecoin settlement for processors and acquirers, and stablecoin checkout on Mastercard's gateway.
Deal terms and financing
The price comprises an upfront payment and up to US$300m in contingent payments linked to performance goals. Mastercard did not disclose further terms.
Regulatory approvals and timing
The deal required regulatory approvals and was expected to close by the end of 2026. Mastercard announced completion on 3 August 2026.
Market context
BVNK was founded in 2021, has raised about US$90m and works with stablecoins issued by Circle and PayPal, among others. Coinbase and BVNK abandoned a proposed US$2bn deal in November 2025 after reaching due diligence, according to Cointelegraph.
