Mastercard Completes Acquisition of Stablecoin Infrastructure Firm BVNK

Odaily Planet Daily News: Mastercard has announced the completion of its acquisition of BVNK, a stablecoin infrastructure company, to enhance its global stablecoin service capabilities. Mastercard's Chief Product Officer stated that in a multi-currency world where fiat, stablecoins, and tokenized deposits coexist, the next generation of payment models will be defined by the efficiency of connectivity across different rails. BVNK's on-chain infrastructure and stablecoin-native technology will help financial institutions, fintech companies, and enterprises expand stablecoin use cases such as cross-border B2B payments, remittances, settlement, and fund flows. As previously reported, Mastercard planned to acquire BVNK for up to $1.8 billion.