Mastercard Completes BVNK Acquisition, Expands Stablecoin Payments Strategy
By CU Today Staff —
PURCHASE, N.Y.—Mastercard said it has completed its acquisition of BVNK, a move aimed at expanding its ability to support payments across both traditional currencies and digital assets as stablecoins gain traction in commercial payments.
The payments giant said BVNK's infrastructure enables businesses to hold, move, manage and convert value between fiat and digital currencies, providing the on-chain technology needed to support use cases such as cross-border B2B payments, remittances, payouts, settlement and treasury management. Mastercard said combining its global payments network with BVNK's stablecoin-native platform will help financial institutions, fintechs and businesses scale the use of stablecoins and tokenized assets.
"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, Mastercard's chief product officer. "In a multi-money world where fiat, stablecoins and tokenized deposits and other forms of value coexist, the next payments paradigm will be defined by how effectively each rail, network or form of money connects and works together."
Originally reported by CU Today.