Mastercard beats Coinbase to acquire BVNK for $1.8bn

Mastercard agreed to acquire stablecoin infrastructure firm BVNK for up to $1.8 billion, beating out Coinbase after their deal talks collapsed. This move aims to expand Mastercard's on-chain capabilities as the global stablecoin market capitalisation hits a record high of over $316 billion. Mastercard had also previously failed to acquire Zerohash.