Mastercard has announced the completion of its takeover of stablecoin‑payment infrastructure provider BVNK.

Back in March this year, Mastercard revealed plans to acquire BVNK at a price of up to 1.8 billion USD, including 300‑million‑dollar contingent consideration. The transaction is now officially closed.

BVNK supplies fiat‑currency and on‑chain payment infrastructure to support the custody, transfer, management and exchange of fiat money and digital assets.

According to Mastercard, this acquisition will boost its capacity to link fiat‑currency and digital‑asset payment networks. The corporation will prioritize stablecoin‑based use‑cases such as cross‑border B2B payments, remittances, corporate disbursements, settlement and treasury‑asset management.