According to multiple sources familiar with the negotiations, Mastercard is reportedly in deep talks to acquire the cryptocurrency and stablecoin infrastructure startup Zerohash, with the deal valued between $1.5 billion and $2 billion.
This news, reported by Fortune magazine on Wednesday, comes after Mastercard's previous efforts to expand its stablecoin infrastructure footprint.
Sources familiar with the negotiations revealed that the global payments giant had previously explored acquiring the London-based stablecoin startup BVNK, with a deal valuation close to $2 billion.
Although no deal has been announced yet, sources say Mastercard has been surpassed by the centralized cryptocurrency exchange Coinbase, which is currently in exclusive negotiations with BVNK.
Zerohash is an API-first infrastructure provider that enables banks, fintech companies, and brokers to embed cryptocurrencies, stablecoins, and tokenization into their existing platforms.
According to a press release in April, the company supported over $2 billion in tokenized fund flows in the first four months.
The company also provides payment infrastructure for major tokenized funds such as BlackRock's BUIDL, Franklin Templeton's BENJI Token, and Hamilton Lane's HLPIF.
With the passage of stablecoin legislation in the U.S. and Europe, global payment companies are accelerating their entry into the digital asset space.
In September, PayPal expanded its PayPal USD stablecoin to multiple new blockchains, including Avalanche, Aptos, Tron, Ink, Abstract, Stable, and Sei.
In the same month, Stripe announced the launch of a new tool called Open Issuance, allowing any business to mint and manage its own stablecoin. This service is supported by the stablecoin infrastructure company Bridge, which Stripe acquired in October 2024.
Stripe announced plans to launch Tempo, an internal blockchain built specifically for global payments and stablecoin transactions.
On Wednesday, Visa stated it would begin supporting stablecoins on four new blockchains but did not disclose which networks or tokens would be added.
Related: Safello and Deutsche Bank to launch the first Bittensor (TAO) ETP on the Swiss SIX Exchange
Original: “Reportedly, Mastercard is negotiating to acquire Zerohash for nearly $2 billion”
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