Key Takeaways
- Mastercard is reportedly in advanced discussions to acquire crypto infrastructure firm Zero Hash for an estimated $1.5 billion to $2 billion.
- This follows a previous reported attempt by Mastercard to acquire BVNK, which was allegedly outbid by Coinbase.
- Zero Hash offers API-first infrastructure enabling banks, fintechs, and brokerages to integrate crypto, stablecoins, and tokenization.
- Major payment players including PayPal, Stripe, and Visa are actively increasing their engagement in the stablecoin and digital asset sectors.
Mastercard is rumored to be in advanced negotiations for the acquisition of Zero Hash, a startup focused on cryptocurrency and stablecoin infrastructure. Sources suggest the potential deal is valued between $1.5 billion and $2 billion.
This development comes after Mastercard’s prior reported interest in acquiring BVNK, a Dutch stablecoin infrastructure provider. However, it is believed that Coinbase, a leading cryptocurrency exchange, successfully outbid Mastercard for BVNK and is currently in exclusive acquisition talks.
Expanding into Digital Asset Infrastructure
Zero Hash provides an API-first infrastructure solution that allows banks, fintech companies, and brokerages to easily integrate cryptocurrency, stablecoin, and tokenization capabilities into their existing platforms. The company has reported significant growth, processing over $2 billion in tokenized fund flows in the four months leading up to April 2025, according to a press release.
Furthermore, Zero Hash underpins the payment infrastructure for well-known tokenized funds such as BlackRock’s BUIDL, Franklin Templeton’s BENJI Token, and Hamilton Lane’s HLPIF.
💡 The recent passage of stablecoin legislation in both the United States and Europe has accelerated the global momentum towards stablecoins and digital asset infrastructure.
Industry-Wide Adoption of Stablecoins
The payments industry is showing a clear trend towards incorporating stablecoins and digital assets. In September, PayPal broadened the availability of its PayPal USD stablecoin to several new blockchains, including Avalanche, Aptos, Tron, Ink, Abstract, Stable, and Sei, signaling a strategy to embed digital currencies within established payment networks.
Similarly, Stripe announced its new tool, Open Issuance, in September. This platform is designed to enable businesses to create and manage their own stablecoins, supported by Stripe’s acquisition of Bridge, a stablecoin infrastructure firm, in October 2024. Stripe is also developing its proprietary blockchain , Tempo, aimed at facilitating global payments and stablecoin transactions.
⚡ Visa recently declared its intention to support stablecoins across four additional blockchains, though specific details on the networks and tokens involved have yet to be disclosed.
Final Thoughts
The potential acquisition of Zero Hash by Mastercard underscores the increasing strategic importance of digital asset infrastructure for major financial entities. As the regulatory environment for stablecoins becomes clearer, companies are actively seeking to bolster their expertise in this dynamic sector. The heightened activity from leading companies like PayPal, Stripe, and Visa points to a significant trend toward integrating stablecoins and tokenized assets into mainstream financial services.