Mastercard Chief Product Officer Jorn Lambert said: “By bringing together Mastercard’s global network with BVNK’s on-chain infrastructure and stablecoin-focused technology, we can deliver a more efficient, reliable, and seamless payment experience.”
Mastercard has announced the completion of its acquisition of BVNK, a digital payments infrastructure provider.
According to a statement from the company, the acquisition is aimed at increasing interoperability between fiat and digital currencies, giving individuals and businesses more options for transferring value.
By bringing together BVNK’s on-chain infrastructure and stablecoin-focused technology with its global network, Mastercard aims to strengthen the connection between digital assets and traditional payment systems. The deal is expected to support the broader global adoption of secure, interoperable value transfers.
BVNK provides the infrastructure underpinning fiat currencies and on-chain payments. The company’s technology enables individuals, businesses, and machines to store, transfer, manage, and convert value between fiat and digital currencies, with all such transactions carried out within a framework of security, regulatory compliance, and interoperability.
Combining BVNK’s technology and industry expertise with Mastercard’s global capabilities is expected to help financial institutions, fintech companies, and businesses scale use cases based on stablecoins and tokenized assets. These use cases include cross-border business-to-business payments, mass payouts, reconciliation, and treasury operations.
Commenting on the matter, Mastercard Chief Product Officer Jorn Lambert said digital currencies, particularly stablecoins, are increasingly addressing real needs in areas such as cross-border business-to-business payments, personal cross-border money transfers, mass payouts, reconciliation, and treasury operations, adding:
“In a multi-currency ecosystem where fiat currencies, stablecoins, tokenized deposits, and other forms of value coexist, the new payment paradigm will be shaped by how effectively different infrastructures, networks, and forms of money connect and interoperate with one another. By bringing together Mastercard’s global network with BVNK’s on-chain infrastructure and stablecoin-focused technology, we can deliver a more efficient, reliable, and seamless payment experience.”
