Mastercard is in talks to acquire Zero Hash, having previously considered BVNK, aiming to promote 24/7 stablecoin settlements.
Such transactions could provide Mastercard with a one-stop on-chain payment solution, accelerating its transformation from pilot projects to mass production.
Stablecoin-based settlements will enable banks and merchants to conduct continuous transactions without being constrained by batch settlements and weekend delays.
However, operational, compliance, and liquidity challenges mean that in the short term, it will still be in a transitional phase where traditional and innovative systems coexist.
Mastercard is engaged in deep negotiations with crypto infrastructure provider Zero Hash, with the acquisition amount between $1.5 billion and $2 billion, having also considered a similar-sized acquisition of the stablecoin platform BVNK.
Rather than building all on-chain components from scratch, Mastercard seems more inclined to acquire a one-stop stablecoin infrastructure provider that can directly integrate with existing payment networks. If this plan moves forward, it will help break through traditional business day limitations, achieving a more continuous 24/7/365 settlement model.
Zero Hash and BVNK perform similar critical functions for institutional clients. They provide regulated custody, exchange, payment, and business process management, allowing banks, brokerages, or processors to flexibly switch between fiat and stablecoins without needing to rebuild compliance systems.
Incorporating one or both of these companies into the Mastercard ecosystem would accelerate its roadmap from pilot to mass production, gaining licensing coverage and customer integration from day one. Although the negotiations are not yet finalized, the strategic intent is very clear.
Currently, card payments are still settled through batch windows, weekday cutoffs, and correspondent banking chains. Stablecoins, however, break through the limitations of bank operating hours. Mastercard has established two key pillars for this new landscape:
Multi-Token Network (MTN): A toolkit for secure, programmable transactions across tokenized currencies and assets.
Crypto Credentials: A verification layer that allows exchanges and wallet users to transact using human-readable identifiers while maintaining compliance checks.
Adding stablecoin settlements to this stack allows acquirers to receive funds at any time, net on-chain obligations, and settle funds within minutes, rather than T+1 or T+2.
Did you know? In August 2025, Mastercard's Eastern Europe, Middle East, and Africa division partnered with Circle to launch a program allowing acquirers to settle in USDC or EURC and pay merchants directly from these balances.
Customers can make payments via card or linked wallets. Acquirers do not need to wait for fiat batch settlements and can choose to complete transactions in stablecoins directly. The obligations between issuers and acquirers are then net settled on-chain through approved custody and liquidity partners.
The treasury team can then allocate funds almost in real-time, applying programmable rules to foreign exchange (FX), fees, etc., and convert back to fiat on demand. Acquisitions like Zero Hash will provide the custody and payment foundation, while BVNK will complement enterprise-level stablecoin business process management capabilities.
For banks and processors, this means a reduced number of integrated suppliers and faster onboarding.
For banks and acquirers, "always online" settlements reduce pre-funding needs and daytime overdraft risks while alleviating weekend and holiday bottlenecks.
However, this also brings new responsibilities: on-chain monitoring, key management, and smart contract risk control must meet card network standards.
For merchants and treasury personnel, achieving continuous settlements through stablecoins helps improve working capital efficiency and simplifies reconciliation. Some may choose to hold a portion of stablecoins as cash flow, while the rest is automatically converted to local currency. In either case, transparent on-chain records simplify audit processes and shorten dispute resolution times.
For cross-border payments, stablecoins shorten correspondent banking links, keeping payment channels open even after hours. While it cannot completely eliminate FX or tax complexities, it significantly reduces the mechanical friction that currently slows down and makes international payments unpredictable.
24/7 settlements are within reach, but some obstacles may delay the transition:
Fiat currency channel restrictions: Automated clearinghouse and SEPA cut-off times, real-time full clearing maintenance windows, and bank compliance approvals may introduce "business hours" between fiat and crypto assets.
Operational risks: Key custody, security vulnerabilities, blockchain congestion, and reserve or de-pegging issues require strict auditing, emergency response plans, and appropriate insurance coverage.
Compliance and accounting realities: Permanent online anti-money laundering (AML) and sanctions screening, "travel rule" requirements, dispute/chargeback handling, and enterprise resource planning (ERP)/reporting processes need to be restructured for continuous settlements. In the initial stages, most treasury personnel may still automatically convert back to fiat.
Market and supplier constraints: Liquidity may thin out depending on venues or time periods, with spreads widening during stress periods; at the same time, stablecoin issuance governance mechanisms, oracle reliability, custody connectivity, and network fees may become bottlenecks when scaling.
In short, a hybrid phase is foreseeable—as fiat infrastructure, policies, and backend tools gradually improve, on-chain settlements will continue to expand their penetration.
Some indicators will reveal whether "banking hours" are fading:
Completion of the Zero Hash acquisition
Final outcomes of BVNK negotiations, regardless of whether a deal is reached and the reasons behind it
Expansion of USDC and EURC settlements to new regions and acquirers, with significant transaction volumes
Deployment of MTN and crypto credentials from pilot to actual launch by banks or processors.
If these factors are in place, settlements will begin to occur based on business needs rather than the clock.
Related: Reports suggest that cryptocurrency exchange Gemini plans to integrate prediction markets
Original article: “Mastercard's $2 Billion Move into Crypto Could End Banking Hours as We Know Them”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
