Mastercard plans to acquire stablecoin infrastructure company BVNK for up to $1.8 billion.

PANews reported on March 17th that, according to Bloomberg, Mastercard plans to acquire stablecoin infrastructure startup BVNK for up to $1.8 billion, including a potential $300 million consideration. BVNK had previously negotiated a $2 billion acquisition with Coinbase last year, but discussions ended in November. Mastercard has recently established a global network of partnerships with over 85 digital asset and crypto-related companies, attempting to maintain its core position in the payments sector for emerging technologies such as stablecoins. Headquartered in London, this transaction will further strengthen the traditional payments network's presence in crypto payments and stablecoin settlement infrastructure.