On March 17, payment giant Mastercard announced its acquisition of stablecoin infrastructure startup BVNK, with the deal valued at up to $1.8 billion. Both companies stated in a statement on Tuesday that approximately $300 million of that is contingent consideration.
The report states that this acquisition comes after potential $2 billion deal talks between BVNK and Coinbase Global broke down four months ago. This transaction also demonstrates that traditional payment giants are accelerating their deployment of stablecoins and on-chain payment infrastructure.
