Mastercard has agreed to acquire BVNK, a stablecoin payments infrastructure company, for up to $1.8 billion including $300 million in contingent payments, in a deal that extends the card network’s digital asset capabilities into a segment its existing infrastructure does not currently serve.
Mastercard already operates the Multi-Token Network (MTN), its wholesale and institutional digital asset platform designed to connect traditional and tokenized money. BVNK addresses a different layer: the company’s platform serves payment service providers and enterprises including Worldpay, Flywire and dLocal, enabling them to send and receive payments across major blockchain networks in more than 130 countries. Together the two platforms would give Mastercard coverage across both institutional and commercial payment flows.
Founded in 2021, BVNK attracted investment from Visa in May 2025 and Citi in October before Mastercard announced the acquisition.
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