Mastercard Plans to Acquire Stablecoin Infrastructure Firm BNK for Up to $1.8 Billion

BlockBeats News, March 17th, Payment giant Mastercard announced that it would acquire the stablecoin infrastructure startup BVNK, with a maximum total transaction value of up to $1.8 billion. The two parties said in a statement on Tuesday that around $300 million of it is a contingent consideration.

It is reported that this acquisition comes after BVNK's potential deal with Coinbase Global for about $2 billion fell apart four months ago. This transaction also demonstrates that traditional payment giants are accelerating their layout in stablecoins and on-chain payment infrastructure.