Mastercard completes BVNK acquisition to boost global stablecoin infrastructure

Source: Mastercard

Mastercard has completed its acquisition of BVNK, expanding the company’s strategy to support greater choice in how people and businesses exchange value by enabling interoperability across fiat and digital currencies.

“Digital currencies – particularly stablecoins – are increasingly addressing real-world needs in areas like cross-border B2B payments, remittances, payouts, settlement and treasury flows,” said Jorn Lambert, chief product officer at Mastercard.

“In a multi-money world where fiat, stablecoins and tokenized deposits and other forms of value coexist, the next payments paradigm will defined by how effectively each rail, network or form of money connects and works together. By combining Mastercard’s global network with BVNK’s on-chain infrastructure and stablecoin-native technology, we can deliver a more efficient, trusted and seamless payment experience.”

BVNK provides the infrastructure that supports fiat and on-chain payments behind the scenes – enabling people, businesses and machines to hold, move, manage and convert value across fiat and digital currencies within a framework of security, compliance and interoperability.

Bringing BVNK’s technology and deep industry expertise together with Mastercard’s capabilities will help financial institutions, fintechs and enterprises scale use cases powered by stablecoins and tokenized assets – from cross-border B2B payments and payouts, to settlement and treasury flows.

Further reading: Mastercard and Wealnest simplify wealth management through Open Finance