Overview
- Mastercard confirmed on Monday that it closed its previously announced deal to buy BVNK, a London‑and‑San Francisco‑based provider of API-led on-chain payments infrastructure, in a transaction valued at up to $1.8 billion.
- BVNK’s platform connects traditional banking systems to blockchain networks, letting businesses hold, move, convert and settle value across fiat and stablecoins for cross-border B2B payments, remittances, payouts and treasury operations.
- Mastercard says integrating BVNK will help it offer stablecoin-powered cross-border payments and settlements by combining BVNK’s technology and licenses with Mastercard’s global network and compliance relationships.
- The company has not disclosed a public integration timetable or whether BVNK will keep its brand, leaving questions about when customers and banks will see live products or new commercial terms.
- The deal follows Mastercard’s recent moves into tokenized payments, including participation in Open USD and Agent Pay for Machines, and could sharpen competition with Visa as regulators clarify rules for dollar‑pegged tokens.