Inside stablecoin firm BVNK’s journey to a $1.8B acquisition by Mastercard
Early BVNK investor Concentric shares a fascinating inside view on the stablecoin startup’s journey and the eventual Mastercard deal.
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Summary
- Mastercard recently closed its acquisition of stablecoin infrastructure firm BVNK for $1.8 billion.
- The deal followed intense competition from Coinbase and Visa, with BVNK ultimately favoring Mastercard over a reportedly higher Coinbase offer because of better cultural fit and strategic alignment.
- The acquisition underscores how major payments players, including Stripe, Visa, Mastercard and Coinbase, are racing to secure positions in the roughly $300 billion stablecoin market..
