Mastercard has finalized its acquisition of BVNK as the payments giant deepens its push into stablecoin and digital asset infrastructure, according to a Monday statement.
The acquisition, which was first announced in March, brings BVNK’s on-chain payment technology into Mastercard’s network, allowing businesses and financial institutions to move, manage and convert value across fiat currencies and blockchain-based assets.
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“Digital currencies — particularly stablecoins — are increasingly addressing real-world needs in areas like cross-border B2B payments, remittances, payouts, settlement and treasury flows,” Jorn Lambert, chief product officer at Mastercard, said in a statement, noting that the deal reflects the firm’s vision of a multi-money ecosystem where fiat, stablecoins and tokenized assets operate together through connected payment infrastructure.
Mastercard said the combined platform will support stablecoin-powered cross-border payments, payouts, settlement and treasury services while improving interoperability between traditional financial systems and digital payment networks.
Headquartered in London and San Francisco, BVNK helps businesses move money globally by connecting traditional banking systems with blockchain networks through APIs. Its platform supports fiat and stablecoin payments, enabling enterprises to manage payouts, settlements, and treasury flows across multiple currencies.
The stablecoin infrastructure provider is backed by a group of fintech and crypto investors, including Concentric, Tiger Global, Haun Ventures, Visa Ventures, Citi Ventures, and Coinbase Ventures.
“When we first invested, stablecoins were far from the financial mainstream. What we saw was a much bigger opportunity to rebuild the infrastructure behind global payments and a founding team capable of doing it,” Kjartan Rist, co-founder and Managing Partner at Concentric, commented on the acquisition.
“Mastercard’s acquisition is an exceptional outcome for BVNK, and we believe it demonstrates what can be achieved when exceptional founders are backed with long-term conviction and active company building,” he added.