Mastercard has completed the acquisition of BVNK, a stablecoin infrastructure specialist, for 1.8 billion dollars. The deal, which had put the payments giant against Coinbase for over a year, was officially announced Monday through separate press releases from both companies. BVNK provides infrastructure enabling the management and conversion of value between fiat and digital currencies within a security and compliance framework. According to Jorn Lambert, Chief Product Officer at Mastercard, this alliance aims to deliver more efficient cross-border payments by combining Mastercard’s global network with BVNK’s blockchain expertise. The acquired company reassured its clients by stating that its teams and services would remain unchanged.
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