Mastercard Pursues $2 Billion Purchase of ZeroHash, According to Reports

Mastercard is reportedly in advanced discussions to acquire crypto and stablecoin infrastructure firm zerohash, with a deal valued between $1.5 billion and $2 billion, according to multiple sources familiar with the negotiations.

This news, reported by Fortune on Wednesday, follows Mastercard’s earlier attempts to enhance its presence in the stablecoin infrastructure sector.

The global payments leader had explored acquiring BVNK, a London-based stablecoin startup, with a deal valued near $2 billion, according to insider sources.

Although no agreement has been finalized, sources indicated Mastercard was outbid by centralized crypto exchange Coinbase, which is now in exclusive negotiations with BVNK.

Zerohash is an API-centric infrastructure provider that allows banks, fintechs, and brokerages to integrate crypto, stablecoins, and tokenization into their existing platforms. 

According to a press release from April, the company facilitated over $2 billion in tokenized fund flows within the prior four months.

It also underpins the payment infrastructure for major tokenized funds such as BlackRock’s BUIDL, Franklin Templeton’s BENJI Token, and Hamilton Lane’s HLPIF, according to the company.

Related: Circle’s Arc attracts South Korea’s first won-backed stablecoin experiment

Global payments companies rush to stablecoins

With the recent passage of stablecoin regulations in the United States and Europe, global payment firms are rapidly entering the digital asset market.

In September, PayPal expanded its PayPal USD stablecoin to several new blockchains, including Avalanche, Aptos, Tron, Ink, Abstract, Stable, and Sei.

The same month, Stripe unveiled a new tool called Open Issuance that enables any business to create and manage its own stablecoins. This service is supported by stablecoin infrastructure provider Bridge, which Stripe acquired in October 2024.