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Mastercard is reportedly in advanced talks to acquire crypto and stablecoin infrastructure startup zerohash in a deal valued from $1.5 billion to $2 billion, according to multiple sources familiar with the negotiations.
The news, <a href="https://fortune.com/crypto/2025/10/29/mastercard-zerohash-acquisition-bvnk-stablecoins-coinbase/" rel="noopener noreferrer nofollow" target="_blank">reported</a> by Fortune on Wednesday, follows earlier efforts by Mastercard to expand its footprint in stablecoin infrastructure.
The global payments giant previously explored acquiring BVNK, a London-based stablecoin startup, in a deal valued near $2 billion, according to sources familiar with the talks.
While no deal has been announced, sources said Mastercard was outbid by centralized crypto exchange Coinbase, which is now in exclusivity talks with BVNK.<iframe width="100%" height="315" src="https://www.youtube.com/embed/ry9MI57Pbjs?start=" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen loading="lazy" sandbox="allow-scripts allow-same-origin allow-popups allow-forms"></iframe>
Zerohash is an API-first infrastructure <a href="https://zerohash.com/" rel="noopener noreferrer nofollow" target="_blank">provider</a> that enables banks, fintechs and brokerages to embed crypto, stablecoins and tokenization into their existing platforms.&nbsp;
According to a <a href="https://www.globenewswire.com/news-release/2025/04/15/3061806/0/en/Zero-Hash-Powered-2-Billion-in-Tokenized-Fund-Flows-within-the-Last-Four-Months.html" rel="noopener noreferrer nofollow" target="_blank">press release</a> in April, the company powered more than $2 billion in tokenized fund flows over the preceding four months.
It also provides the payment infrastructure behind major tokenized funds such as BlackRock’s BUIDL, Franklin Templeton’s BENJI Token and Hamilton Lane’s HLPIF, according to the company.
Related: <a href="https://cointelegraph.com/news/south-korea-bdacs-krw1-stablecoin-circle-arc" rel="noopener noreferrer nofollow" target="_self">Circle’s Arc attracts South Korea’s first won-backed stablecoin experiment</a>
<h2 id="global-payments-companies-rush-to-stablecoins">Global payments companies rush to stablecoins</h2>
Following the passage of stablecoin legislation in the United States and Europe, global payments companies have accelerated their entry into the digital asset space.
In September, <a href="https://cointelegraph.com/news/paypal-adds-pyusd-on-new-blockchains-layerzero" rel="noopener noreferrer nofollow">PayPal expanded its PayPal USD stablecoin</a> across several new blockchains, including Avalanche, Aptos, Tron, Ink, Abstract, Stable and Sei.
The same month, Stripe announced a new tool called Open Issuance that enables any business to mint and manage their own stablecoins. The service is backed by <a href="https://cointelegraph.com/news/stripe-acquires-stablecoin-platform-bridge-techcrunch-founder" rel="noopener noreferrer nofollow">stablecoin infrastructure company Bridge</a>, which Stripe acquired in October 2024.
Stripe announced plans to launch Tempo, an in-house blockchain built for global payments and stablecoin transactions.
On Wednesday, Visa said it would <a href="https://cointelegraph.com/news/visa-supporting-four-stablecoins-four-blockchains" rel="noopener noreferrer nofollow">start supporting stablecoins</a> across four new blockchains, though it did not say which networks or tokens would be added.
Magazine: <a href="https://cointelegraph.com/magazine/most-wealthy-hong-kong-investors-plan-to-buy-crypto-japans-bitcoin-plan-asia-express/" rel="noopener noreferrer nofollow" target="_self">Most wealthy Hong Kong investors plan to buy crypto, Japan’s Bitcoin plan: Asia Express</a>

Mastercard in talks to acquire zerohash for nearly $2B: Report

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