Mastercard is reportedly in advanced negotiations to acquire Zerohash, a startup specializing in crypto and stablecoin infrastructure, for a deal valued between $1.5 billion and $2 billion. This potential acquisition, which could represent one of Mastercard’s most significant investments in the cryptocurrency sector, aims to strengthen its capabilities in stablecoin and tokenization technology in reaction to increasing competition in the market.

Earlier reports indicate that Mastercard had shown interest in acquiring BVNK, a stablecoin startup based in London, with a similar estimated value. However, it appears that Coinbase, a centralized crypto exchange, has taken the lead in negotiations with BVNK.

Zerohash functions as an API-first infrastructure provider that allows banks, fintech companies, and brokerages to integrate cryptocurrency, stablecoins, and tokenization into their platforms.

According to a past press release, Zerohash facilitated more than $2 billion in tokenized fund flows over four months. The company also provides core services for significant tokenized funds, including those from BlackRock, Franklin Templeton, and Hamilton Lane.

Global Push for Stablecoins

The interest in stablecoins has been fueled by new legislation in the U.S. and Europe, prompting many global payment companies to explore opportunities in the digital asset space. Recently, PayPal expanded its PayPal USD stablecoin across multiple blockchains, while Stripe introduced a tool enabling businesses to create and manage their stablecoins, furthering innovation in this sector. Visa has announced plans to support stablecoins across additional blockchain networks.

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