Mastercard Acquires BVNK for $1.8 Billion

Mastercard has acquired the stablecoin payment infrastructure company BVNK for up to $1.8 billion. This acquisition aims to expand corporate payment and settlement services by connecting fiat payment networks with on-chain payment infrastructure. Mastercard announced the completion of the BVNK acquisition through an official post on X on the 3rd. The two companies signed the acquisition agreement on March 17, with the target being 100% of BVNK's shares and a base transaction price of $1.5 billion. An additional $300 million may be paid based on performance conditions. BVNK is a payment infrastructure company that supports businesses in sending, storing, and converting stablecoins and fiat currencies, providing remittance and receipt functions in over 130 countries since its establishment in 2021. Mastercard plans to integrate BVNK's technology into its existing payment network to ensure interoperability between fiat currencies and stablecoins. Jorn Lambert, Mastercard's Chief Product Officer, stated that adding on-chain rails to the network will support speed and programmability across all types of transactions. The asset documentation supporting BVNK lists Ripple (XRP) as an asset for deposits and payments. Mastercard has stated that it does not plan to prioritize the use of specific tokens following the acquisition of BVNK.

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