Mastercard has completed its acquisition of UK-based stablecoin infrastructure firm BVNK for up to $1.8 billion, including $300 million in performance-based payments. This acquisition led Mastercard to withdraw from its strategic investment discussions with Zerohash, which is now seeking new funding at a valuation exceeding $1.5 billion. Mastercard aims to integrate BVNK's stablecoin payment infrastructure into its core cross-border payment network.
Meanwhile, JPMorgan analysts report that Ethereum and the altcoin sector are expected to underperform Bitcoin due to weak network activity, stagnant DeFi growth, and limited real-world adoption. They note that Solana's TVL has dropped significantly, highlighting the challenges facing altcoins in matching Bitcoin's performance without a surge in network activity.
Mastercard Acquires BVNK for $1.8 Billion, Exits Zerohash Talks
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