Mastercard has completed the acquisition of BVNK, a company that develops payment infrastructure for transactions involving fiat and digital currencies. It allows companies to store, transfer, and convert funds between fiat and digital currencies.
Potential use cases include cross-border B2B payments, payouts, settlements between participants, and corporate cash management. Mastercard expects that the combination of the two companies will simplify the use of digital assets in everyday financial operations alongside traditional currencies.
The acquisition of BVNK is part of Mastercard's strategy to bridge the traditional financial system with digital assets. The company also aims to leverage the growing demand for stablecoins for payments and other financial operations.
Image: Magnific
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