Mastercard agreed to acquire BVNK for up to $1.8 billion. It is the largest stablecoin deal on record. BVNK's core product is stablecoin-powered treasury and cross-border payment workflows. The deal is not a speculative bet. It is a payment network buying direct ownership of digital-asset settlement infrastructure. When that volume normalizes at institutional scale, the ledger reconstruction and audit layer behind it becomes required, not optional.