Mastercard completed the acquisition of BVNK, a stablecoin payments infrastructure provider, on August 3, while joining Visa as a founding participant in the Open USD stablecoin initiative. The combination places Mastercard at the center of two major industry developments: ownership of a platform processing more than $30 billion in annualized transaction volume, and participation in a consortium developing an open, business-focused stablecoin. Mastercard described the transaction as a major step toward expanding blockchain-based payment capabilities, with the acquisition price set at up to $1.8 billion including contingent payments tied to performance milestones. BVNK provides infrastructure allowing banks, fintechs and enterprises to move between fiat currencies and blockchain-based stablecoins across more than 130 countries. The acquisition comes weeks after Mastercard and Visa joined more than 140 financial institutions in launching Open Standard, the consortium behind Open USD, following the passage of the GENIUS Act establishing federal stablecoin framework in the United States.
Mastercard Acquires BVNK for Up to $1.8 Billion
Mastercard announced the completion of its acquisition of BVNK on August 3. Financial terms were not disclosed in the completion announcement, although Mastercard had previously agreed to acquire BVNK for up to $1.8 billion, including contingent payments tied to performance milestones. BVNK's platform supports payments across more than 130 countries and multiple public blockchain networks, positioning Mastercard to integrate stablecoin settlement directly into its existing payments ecosystem. The platform has processed more than $30 billion in annualized transaction volume.
Mastercard and Visa Join Open Standard Consortium with 140+ Participants
The acquisition comes weeks after Mastercard and rival Visa joined more than 140 financial institutions and technology companies in launching Open Standard, the consortium behind the upcoming Open USD stablecoin. Unlike existing stablecoins issued by a single company, Open USD is designed as an industry-owned digital dollar that allows businesses to mint and redeem tokens without volume restrictions. After management fees, reserve earnings will be shared among consortium participants, aligning incentives across banks, payment companies and fintech providers. The participation of both Mastercard and Visa is significant given the companies' decades-long rivalry in traditional card payments. The initiative follows the passage of the GENIUS Act, which established the first comprehensive federal framework governing payment stablecoins in the United States.
BVNK Platform Processes $30 Billion Annualized Volume Across 130+ Countries
BVNK provides infrastructure that allows banks, fintechs and enterprises to move seamlessly between traditional fiat currencies and blockchain-based stablecoins. Its platform supports payments across more than 130 countries and multiple public blockchain networks. By combining BVNK's infrastructure with Mastercard's global merchant and banking relationships, the company aims to provide institutional clients with integrated fiat-to-stablecoin payment services without requiring them to build blockchain capabilities internally. The strategy mirrors moves by Visa, Stripe and several global banks that have expanded investments in tokenized payments over the past year.
FAQ
What did Mastercard acquire on August 3?
Mastercard completed the acquisition of BVNK, a stablecoin payments infrastructure provider that processes more than $30 billion in annualized transaction volume across more than 130 countries. The acquisition price was set at up to $1.8 billion including contingent payments tied to performance milestones.
What is Open USD and who participates in it?
Open USD is an industry-owned stablecoin developed by the Open Standard consortium, which includes Mastercard, Visa, and more than 140 financial institutions and technology companies. Unlike existing stablecoins issued by a single company, Open USD allows businesses to mint and redeem tokens without volume restrictions, with reserve earnings shared among consortium participants after management fees.
