Mastercard has announced plans to acquire stablecoin infrastructure firm BVNK in a deal valued at up to $1.8 billion, marking a significant step in its expansion into blockchain-based payments.
The transaction, which includes up to $300 million in contingent payments, is expected to close before the end of 2026, subject to regulatory approvals and customary conditions.
With the acquisition, Mastercard is racing to strengthen its position against rival Visa Inc., as both firms seek to establish early leadership in the fast-evolving blockchain payments ecosystem.
What they are saying
Commenting on the deal, Mastercard’s Chief Product Officer, Jorn Lambert, said the company expects widespread adoption of digital currency services among financial institutions and fintech firms in the coming years.
- “We expect that most financial institutions and fintechs will, in time, provide digital currency services,” he said.
- “This acquisition reinforces what we have always done, using innovation and technology to power economies and empower people. Adding on-chain rails to our network will support speed and programmability for virtually every type of transaction,” he added.
According to him, Mastercard has already been building its digital asset capabilities through initiatives such as its Crypto Partner Program, which focuses on integrating blockchain-based payments into its global network.
Founded in 2021, BVNK provides infrastructure that connects traditional fiat currencies with stablecoins, enabling businesses to seamlessly move funds across both systems.
The platform supports payments across major blockchain networks and operates in more than 130 countries, positioning it as a key enabler of global digital transactions.
Get up to speed
The payment industry’s attention is increasingly turning to stablecoins, driven by improving regulatory clarity and rising adoption across global markets.
This has opened up new opportunities for payment networks to compete in cross-border transfers, remittances, and business payments.
- Earlier this month, Visa Inc. expanded its partnership with Bridge, a stablecoin infrastructure platform owned by Stripe, to launch stablecoin-linked Visa cards in more than 100 countries, substantially broadening its previous collaboration.
- The initiative will enable users to spend their stablecoin balances directly across Visa’s extensive global merchant network.
By connecting stablecoin wallets to Visa cards, the program removes the need for manual conversion into fiat before purchases. This makes digital assets more practical for everyday use.
What you should know
Late last year, the founder and CEO of Africa’s leading fintech, Flutterwave, Olugbenga Agboola, also highlighted how the company is betting big on stableboin.
Speaking at high-profile events in Riyadh, namely Money 20/20 Middle East and the two-day summit Fluidity 2025, Flutterwave Founder and CEO Olugbenga “GB” Agboola noted the company’s shift toward supporting stablecoin payments for individuals and enterprises.
This strategy, according to him, shows that Flutterwave is not merely betting on stablecoins but is actively building partnerships for a future where they serve as the backbone of the ongoing financial transformation across Africa and beyond.
Agboola linked this vision directly to the continent’s demographic during his presentation, “Youth, Mobile & Money: Africa’s Billion-Dollar Fintech Opportunity”.
