Mastercard finalizes BVNK purchase, boosting stablecoin payment network

Mastercard has completed its acquisition of BVNK, a platform that provides on‑chain payment technology for stablecoins and tokenized assets. The deal, valued at up to US$1.8 billion, was first announced in March and closed on Monday. BVNK, founded in 2021 and headquartered in London and San Francisco, connects traditional banking systems with blockchain networks through APIs, enabling businesses to move money globally, manage payouts, settlements and treasury flows across fiat and stablecoin currencies.

Mastercard says the integration will expand its cross‑border B2B payment capabilities, improve interoperability between conventional financial infrastructure and digital‑asset networks, and support stablecoin‑powered payments, payouts, settlement and treasury services. Jorn Lambert, Mastercard’s chief product officer, described the move as part of a “multi‑money ecosystem” where fiat, stablecoins and tokenized assets operate together. BVNK’s backers include Concentric, Tiger Global, Haun Ventures, Visa Ventures, Citi Ventures and Coinbase Ventures, underscoring the growing interest of major investors in stablecoin infrastructure.