Mastercard Completes Acquisition of Stablecoin Infrastructure Firm BVNK

Mastercard said it has completed its acquisition of stablecoin infrastructure company BVNK to expand its global stablecoin service capabilities. According to PANews, Mastercard Chief Product Officer said that in a multi-currency world where fiat, stablecoins and tokenized deposits coexist, next-generation payments will be determined by the efficiency of connections across payment rails. He said BVNK's onchain infrastructure and stablecoin-native technology will help financial institutions, fintech firms and companies expand stablecoin use cases in cross-border B2B payments, remittances, settlement and treasury flows. In March, reports said Mastercard planned to acquire BVNK for up to $1.8 billion.