Mastercard's $1.8B BVNK acquisition has reshaped the stablecoin infrastructure race with Visa.
Visa's stablecoin settlement business has reached a $7B annualized run rate across nine blockchains.
Visa is reportedly seeking a new stablecoin settlement and OTC partner after BVNK moved to Mastercard.
Mastercard's $1.8 billion acquisition of stablecoin infrastructure provider BVNK has done more than expand its digital-asset capabilities. It has also changed the competitive landscape for stablecoin payments. That is by putting pressure on Visa to secure new infrastructure partners.
Mastercard completed the BVNK acquisition on August 3 after agreeing to pay $1.5 billion upfront, with up to another $300 million in contingent consideration. BVNK gives Mastercard infrastructure connecting stablecoins with traditional payment rails across cross-border payments, payouts, settlement and treasury flows.
#mastercard #settlement #billion #payments
Visa's stablecoin settlement business has reached a $7B annualized run rate across nine blockchains.
Visa is reportedly seeking a new stablecoin settlement and OTC partner after BVNK moved to Mastercard.
Mastercard's $1.8 billion acquisition of stablecoin infrastructure provider BVNK has done more than expand its digital-asset capabilities. It has also changed the competitive landscape for stablecoin payments. That is by putting pressure on Visa to secure new infrastructure partners.
Mastercard completed the BVNK acquisition on August 3 after agreeing to pay $1.5 billion upfront, with up to another $300 million in contingent consideration. BVNK gives Mastercard infrastructure connecting stablecoins with traditional payment rails across cross-border payments, payouts, settlement and treasury flows.
#mastercard #settlement #billion #payments
2 months ago
