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Project Overview
BVNK provides banking services and payments for crypto-native enterprises. Companies using BVNK can accept payments in fiat currency and cryptocurrency, hold hundreds of different currencies and crypto assets, and send funds worldwide.
Coinbase reportedly bid as high as $2.5 billion to acquire BVNK, ultimately losing out to Mastercard's $1.8 billion acquisition
Odaily News The inside story behind stablecoin infrastructure company BVNK's acquisition by Mastercard for $1.8 billion has recently come to light. According to Concentric, an early investor in BVNK, during the bidding process, US crypto exchange Coinbase once held an advantageous position and reportedly submitted a bid as high as $2.5 billion, but ultimately withdrew from the competition due to insufficient strategic and cultural alignment between the two parties.Kjartan Rist, founding partner of Concentric, stated that BVNK's founding team did not focus solely on the offer price when selecting an acquirer, but placed greater emphasis on long-term partnership and corporate culture fit. "Coinbase may have offered a higher price, but the chemistry between the two sides was not ideal." In contrast, Mastercard, as a traditional financial services company, is more likely to create synergies with BVNK in payment infrastructure and stablecoin applications.It is understood that Mastercard participated in acquisition discussions with BVNK at an early stage, and after Coinbase failed to advance the deal, Mastercard re-emerged as the primary buyer, ultimately completing the acquisition for $1.8 billion.Visa also participated in the competition. Having previously invested in BVNK and holding a board observer seat, Visa once had an advantage. However, Visa ultimately chose not to pursue a direct acquisition, instead adopting an open strategy of partnering with multiple stablecoin companies.Founded in 2018, BVNK provides enterprises with stablecoin payment, cross-border settlement, and treasury management infrastructure. Its early investor Concentric invested in the company at a valuation of $4 million in 2019, and this transaction has generated substantial returns.The acquisition also reflects a new round of competition between traditional payment giants and crypto companies over stablecoin infrastructure. Previously, Stripe acquired stablecoin infrastructure company Bridge for $1.1 billion, prompting payment giants such as Visa and Mastercard to accelerate their expansion into the stablecoin sector.Currently, the global stablecoin market size has approached $300 billion. As enterprise payments, cross-border settlements, and treasury management use cases grow rapidly, stablecoin infrastructure is becoming a critical gateway for traditional financial institutions to capture. (CoinDesk)
Mastercard Completes Acquisition of BVNK in Deal Valued Up to $1.8 Billion
Odaily News: Mastercard has completed its acquisition of stablecoin payments company BVNK, integrating its on-chain settlement and wallet infrastructure into its global network. The final acquisition price was not disclosed; when the agreement was announced in March, the transaction was valued at up to $1.8 billion, including $300 million in contingent payments. Founded in 2021, BVNK provides businesses with infrastructure to send, receive, store, and convert funds between traditional currencies and blockchain networks. Mastercard stated that BVNK's existing customers will continue to use the same products, integrations, and support teams, and no action is required at this time. Mastercard's Chief Product Officer Jorn Lambert said that digital currencies, particularly stablecoins, are increasingly meeting real-world needs. The combined platform is expected to support banks in connecting customer accounts with digital wallets and provide payment service providers with 24/7 merchant settlement capabilities.
ZeroHash, a cryptocurrency infrastructure company, is seeking new funding at a valuation of over $1.5 billion.
According to CoinDesk, crypto infrastructure firm Zerohash is seeking new funding at a valuation exceeding $1.5 billion. This comes after Mastercard abandoned its investment plans for Zerohash following its $1.8 billion acquisition of UK-based stablecoin infrastructure company BVNK. Founded in 2017, Zerohash provides APIs and embedded development tools to financial institutions and fintech companies, enabling support for cryptocurrencies, stablecoins, and tokenized products. The company now serves over 5 million users across 190 countries, with clients including Morgan Stanley, Stripe, Interactive Brokers, BlackRock’s BUIDL Fund, and Franklin Templeton. In September 2025, Zerohash closed its $104 million Series D-2 round, valuing the company at $1 billion at that time.
BVNK Acquired by Mastercard, Visa Seeks New Stablecoin Settlement and OTC Trading Partners
Odaily News: Payment company Visa is seeking settlement and over-the-counter (OTC) trading partners with cryptocurrency exchange licenses in the United States, Canada, the United Kingdom, and Singapore. The partner will also be responsible for settlement of the newly launched Open USD stablecoin project, which plans to support multiple stablecoins. (CoinDesk)
Visa Seeks New Stablecoin Settlement Partner to Replace BVNK Acquired by Mastercard
According to CoinDesk, Visa is seeking new stablecoin settlement and OTC trading partners to replace BVNK, which was previously acquired by Mastercard. Relevant product request documents indicate that Visa expects partners to hold cryptocurrency exchange licenses in the U.S., Canada, the UK, and Singapore, and to support multiple stablecoin conversion and settlement services, including handling settlement for the Open USD stablecoin project promoted by Stripe, Visa, and Mastercard.
Chainalysis: Predicts Stablecoin Transaction Volume Could Exceed $15 Trillion by 2035, Surpassing Global Cross-Border Payment Volume
According to Cointelegraph, blockchain analytics firm Chainalysis released a report stating that stablecoin-adjusted transaction volume is projected to reach $719 trillion by 2035—marking a substantial increase from $28 trillion in 2025. If two major macro catalysts align, this figure could double further to $15 trillion, surpassing the current annual global cross-border payment volume of approximately $10 trillion. The two catalysts are: (1) the transfer of over $100 trillion in wealth from the Baby Boomer generation to younger, crypto-native generations; and (2) stablecoins fully replacing traditional payment rails as the default payment infrastructure. Rachael Lucas, an analyst at Australian crypto exchange BTC Markets, noted that strategic moves—including Stripe’s acquisition of Bridge and Mastercard’s partnership with BVNK—are concrete steps forward. Coupled with regulatory clarity provided by the GENIUS Act, institutional participation is expected to expand significantly.
BVNK Acquired by Mastercard, Visa Seeks New Stablecoin Settlement and OTC Trading Partners
Odaily News: Payment company Visa is seeking settlement and over-the-counter (OTC) trading partners with cryptocurrency exchange licenses in the United States, Canada, the United Kingdom, and Singapore. The partner will also be responsible for settlement of the newly launched Open USD stablecoin project, which plans to support multiple stablecoins. (CoinDesk)
Visa Seeks New Stablecoin Settlement Partner to Replace BVNK Acquired by Mastercard
According to CoinDesk, Visa is seeking new stablecoin settlement and OTC trading partners to replace BVNK, which was previously acquired by Mastercard. Relevant product request documents indicate that Visa expects partners to hold cryptocurrency exchange licenses in the U.S., Canada, the UK, and Singapore, and to support multiple stablecoin conversion and settlement services, including handling settlement for the Open USD stablecoin project promoted by Stripe, Visa, and Mastercard.
Mastercard Completes Acquisition of BVNK in Deal Valued Up to $1.8 Billion
Odaily News: Mastercard has completed its acquisition of stablecoin payments company BVNK, integrating its on-chain settlement and wallet infrastructure into its global network. The final acquisition price was not disclosed; when the agreement was announced in March, the transaction was valued at up to $1.8 billion, including $300 million in contingent payments. Founded in 2021, BVNK provides businesses with infrastructure to send, receive, store, and convert funds between traditional currencies and blockchain networks. Mastercard stated that BVNK's existing customers will continue to use the same products, integrations, and support teams, and no action is required at this time. Mastercard's Chief Product Officer Jorn Lambert said that digital currencies, particularly stablecoins, are increasingly meeting real-world needs. The combined platform is expected to support banks in connecting customer accounts with digital wallets and provide payment service providers with 24/7 merchant settlement capabilities.
ZeroHash, a cryptocurrency infrastructure company, is seeking new funding at a valuation of over $1.5 billion.
According to CoinDesk, crypto infrastructure firm Zerohash is seeking new funding at a valuation exceeding $1.5 billion. This comes after Mastercard abandoned its investment plans for Zerohash following its $1.8 billion acquisition of UK-based stablecoin infrastructure company BVNK. Founded in 2017, Zerohash provides APIs and embedded development tools to financial institutions and fintech companies, enabling support for cryptocurrencies, stablecoins, and tokenized products. The company now serves over 5 million users across 190 countries, with clients including Morgan Stanley, Stripe, Interactive Brokers, BlackRock’s BUIDL Fund, and Franklin Templeton. In September 2025, Zerohash closed its $104 million Series D-2 round, valuing the company at $1 billion at that time.
Payment company Corpay partners with BVNK to introduce stablecoin wallets, enhancing cross-border payments and corporate treasury efficiency
Odaily Planet Daily reported that payment company Corpay has announced a partnership with stablecoin infrastructure provider BVNK to introduce stablecoin wallet and settlement capabilities into its global enterprise payment platform, providing a new channel for cross-border fund flows outside the traditional banking system. Through this integration, Corpay’s enterprise customers can view both fiat and stablecoin balances on the same platform interface, and are supported in sending, receiving, storing, and exchanging stablecoins, realizing embedded wallet functions that cover more flexible cross-border payment scenarios. (CoinDesk)
S&P 500 payment giant Corpay integrates BVNK’s stablecoin infrastructure, reaching over 800,000 corporate customers
According to The Block, Corpay (NYSE: CPAY), a S&P 500 constituent and payment services provider, announced a partnership with stablecoin infrastructure platform BVNK to integrate stablecoin wallet and settlement capabilities into its global payments network. Users will be able to directly store, exchange, and transfer stablecoins via the Corpay platform, with stablecoin balances displayed alongside fiat currency balances. Additionally, Corpay will integrate stablecoin payment rails into its treasury management operations to reduce reliance on pre-funded accounts and enable 24/7 settlement. Corpay currently processes over $12 billion in corporate payments per month and handles approximately $26 billion in foreign exchange transactions monthly, supporting more than 145 currencies.
Related news
BVNK Acquired by Mastercard, Visa Seeks New Stablecoin Settlement and OTC Trading Partners
Odaily News: Payment company Visa is seeking settlement and over-the-counter (OTC) trading partners with cryptocurrency exchange licenses in the United States, Canada, the United Kingdom, and Singapore. The partner will also be responsible for settlement of the newly launched Open USD stablecoin project, which plans to support multiple stablecoins. (CoinDesk)
Visa Seeks New Stablecoin Settlement Partner to Replace BVNK Acquired by Mastercard
According to CoinDesk, Visa is seeking new stablecoin settlement and OTC trading partners to replace BVNK, which was previously acquired by Mastercard. Relevant product request documents indicate that Visa expects partners to hold cryptocurrency exchange licenses in the U.S., Canada, the UK, and Singapore, and to support multiple stablecoin conversion and settlement services, including handling settlement for the Open USD stablecoin project promoted by Stripe, Visa, and Mastercard.
Coinbase reportedly bid as high as $2.5 billion to acquire BVNK, ultimately losing out to Mastercard's $1.8 billion acquisition
Odaily News The inside story behind stablecoin infrastructure company BVNK's acquisition by Mastercard for $1.8 billion has recently come to light. According to Concentric, an early investor in BVNK, during the bidding process, US crypto exchange Coinbase once held an advantageous position and reportedly submitted a bid as high as $2.5 billion, but ultimately withdrew from the competition due to insufficient strategic and cultural alignment between the two parties.Kjartan Rist, founding partner of Concentric, stated that BVNK's founding team did not focus solely on the offer price when selecting an acquirer, but placed greater emphasis on long-term partnership and corporate culture fit. "Coinbase may have offered a higher price, but the chemistry between the two sides was not ideal." In contrast, Mastercard, as a traditional financial services company, is more likely to create synergies with BVNK in payment infrastructure and stablecoin applications.It is understood that Mastercard participated in acquisition discussions with BVNK at an early stage, and after Coinbase failed to advance the deal, Mastercard re-emerged as the primary buyer, ultimately completing the acquisition for $1.8 billion.Visa also participated in the competition. Having previously invested in BVNK and holding a board observer seat, Visa once had an advantage. However, Visa ultimately chose not to pursue a direct acquisition, instead adopting an open strategy of partnering with multiple stablecoin companies.Founded in 2018, BVNK provides enterprises with stablecoin payment, cross-border settlement, and treasury management infrastructure. Its early investor Concentric invested in the company at a valuation of $4 million in 2019, and this transaction has generated substantial returns.The acquisition also reflects a new round of competition between traditional payment giants and crypto companies over stablecoin infrastructure. Previously, Stripe acquired stablecoin infrastructure company Bridge for $1.1 billion, prompting payment giants such as Visa and Mastercard to accelerate their expansion into the stablecoin sector.Currently, the global stablecoin market size has approached $300 billion. As enterprise payments, cross-border settlements, and treasury management use cases grow rapidly, stablecoin infrastructure is becoming a critical gateway for traditional financial institutions to capture. (CoinDesk)
Mastercard completes $1.8 billion acquisition of stablecoin infrastructure company BVNK
Odaily News: Payment company Mastercard has recently completed the acquisition of stablecoin infrastructure company BVNK for $1.8 billion. The deal was reached after intense competition from Coinbase and Visa. Although Coinbase's offer was reportedly higher, BVNK ultimately chose Mastercard due to a stronger cultural fit and greater strategic alignment between the two companies. Major payment market players, including Stripe, Visa, Mastercard, and Coinbase, are racing to position themselves in the approximately $300 billion stablecoin market. (CoinDesk)
Mastercard Completes Acquisition of BVNK in Deal Valued Up to $1.8 Billion
Odaily News: Mastercard has completed its acquisition of stablecoin payments company BVNK, integrating its on-chain settlement and wallet infrastructure into its global network. The final acquisition price was not disclosed; when the agreement was announced in March, the transaction was valued at up to $1.8 billion, including $300 million in contingent payments. Founded in 2021, BVNK provides businesses with infrastructure to send, receive, store, and convert funds between traditional currencies and blockchain networks. Mastercard stated that BVNK's existing customers will continue to use the same products, integrations, and support teams, and no action is required at this time. Mastercard's Chief Product Officer Jorn Lambert said that digital currencies, particularly stablecoins, are increasingly meeting real-world needs. The combined platform is expected to support banks in connecting customer accounts with digital wallets and provide payment service providers with 24/7 merchant settlement capabilities.
ZeroHash, a cryptocurrency infrastructure company, is seeking new funding at a valuation of over $1.5 billion.
According to CoinDesk, crypto infrastructure firm Zerohash is seeking new funding at a valuation exceeding $1.5 billion. This comes after Mastercard abandoned its investment plans for Zerohash following its $1.8 billion acquisition of UK-based stablecoin infrastructure company BVNK. Founded in 2017, Zerohash provides APIs and embedded development tools to financial institutions and fintech companies, enabling support for cryptocurrencies, stablecoins, and tokenized products. The company now serves over 5 million users across 190 countries, with clients including Morgan Stanley, Stripe, Interactive Brokers, BlackRock’s BUIDL Fund, and Franklin Templeton. In September 2025, Zerohash closed its $104 million Series D-2 round, valuing the company at $1 billion at that time.