HARRISON (dpa-AFX) - Mastercard Inc. (MA), a technology company, on Tuesday announced that it has entered into a definitive agreement to acquire BVNK, a fintech company and a provider of stablecoin-powered financial infrastructure, for up to $1.8 billion, including $300 million in contingent payments.
The transaction is expected to close before the end of the year.
The acquisition aims to expand Mastercard's capabilities in digital assets by enabling interoperability between traditional fiat payment systems and blockchain-based stablecoins.
The company said the deal will support new payment use cases, including cross-border transfers, payouts, and business-to-business transactions, while enhancing speed and programmability.
BVNK's platform enables businesses to send and receive payments across major blockchain networks in more than 130 countries, complementing Mastercard's global payments network.
In the pre-market trading, Mastercard is 0.10% lesser at $508.00 on the New York Stock Exchange.
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