By cryptoadmin Global payments giant Mastercard is reportedly in talks to acquire BVNK, a technology startup developing stablecoin infrastructure. According to Bloomberg, the planned acquisition could be worth up to $1.8 billion.
This amount also includes an additional payment of approximately $300 million that may be paid based on performance.
This development comes after merger talks between BVNK and cryptocurrency exchange Coinbase, which began approximately four months ago, ended without a resolution. At the time, it was reported that the parties were working on an agreement with a valuation of around $2 billion, but the negotiations did not come to fruition.
BVNK is known as a fintech company that develops stablecoin payments and blockchain-based financial infrastructure solutions. The company works on systems that enable businesses to conduct fast and low-cost payment transactions through stablecoins. Such infrastructure is seen as an alternative to traditional financial systems, especially in cross-border payment transactions.
Analysts say that a potential acquisition of BVNK by Mastercard could strengthen the company’s strategy in the field of digital assets and blockchain-based payment systems. The increasing interest of global payment giants in stablecoin technologies in recent years indicates that blockchain-based solutions are becoming increasingly adopted in the financial sector.
Neither party has yet officially announced a purchase agreement. However, according to sources who spoke to Bloomberg, discussions are ongoing and the parties are working on a potential deal. If the acquisition goes through, it could be one of the largest deals ever between payment technology and crypto infrastructure companies.
*This is not investment advice.