Mastercard acquires stablecoin startup BVNK for $1.8B

Mastercard announced it has acquired UK-based stablecoin infrastructure startup BVNK for $1.8 billion. BVNK supports stablecoin payments in over 130 countries and holds payment licenses in multiple nations. Through the acquisition, Mastercard plans to integrate stablecoins into the core infrastructure of its international remittance network, "Mastercard Move." Meanwhile, the company has halted its previously considered plan for a strategic investment in crypto firm Zerohash.