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bvnk

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Coinbase đã từng báo giá 2,5 tỷ USD để mua lại BVNK, cuối cùng thua trước Mastercard với thương vụ 1,8 tỷ USD

Tin tức từ ChainCatcher, công ty hạ tầng stablecoin BVNK đã bị Mastercard mua lại với giá 1,8 tỷ USD, thông tin về giao dịch này gần đây đã bị rò rỉ. Concentric, một trong những nhà đầu tư sớm của BVNK, tiết lộ rằng trong quá trình đấu thầu mua lại, sàn giao dịch tiền điện tử của Mỹ Coinbase đã từng chiếm ưu thế và được báo cáo đã đưa ra mức giá cao nhất là 2,5 tỷ USD, nhưng cuối cùng đã rút lui do sự thiếu hụt về sự phù hợp chiến lược và văn hóa giữa hai bên.Kjartan Rist, đối tác sáng lập của Concentric, cho biết đội ngũ sáng lập BVNK khi chọn bên mua không chỉ chú trọng vào mức giá mà còn quan tâm đến mối quan hệ hợp tác lâu dài và sự phù hợp văn hóa doanh nghiệp. "Mặc dù Coinbase có thể đã đưa ra mức giá cao hơn, nhưng phản ứng hóa học giữa hai bên không lý tưởng." Ngược lại, Mastercard với tư cách là một công ty dịch vụ tài chính truyền thống, dễ dàng hình thành sự hợp tác với BVNK trong lĩnh vực hạ tầng thanh toán và ứng dụng stablecoin.Được biết, Mastercard đã tham gia vào các cuộc thảo luận mua lại BVNK từ sớm, và sau khi Coinbase không thể thúc đẩy giao dịch, Mastercard đã trở lại với tư cách là người mua chính và cuối cùng hoàn thành việc mua lại với giá 1,8 tỷ USD.Visa cũng đã tham gia vào cuộc cạnh tranh. Do đã đầu tư vào BVNK trước đó và có một ghế quan sát viên trong hội đồng quản trị, Visa đã từng có lợi thế. Tuy nhiên, Visa cuối cùng đã chọn không mua lại trực tiếp mà áp dụng chiến lược mở hợp tác với nhiều công ty stablecoin.BVNK được thành lập vào năm 2018, chủ yếu cung cấp hạ tầng thanh toán stablecoin, thanh toán xuyên biên giới và quản lý quỹ cho các doanh nghiệp. Nhà đầu tư sớm của nó, Concentric, đã đầu tư vào công ty này với mức định giá 4 triệu USD vào năm 2019, và giao dịch này đã mang lại lợi nhuận lớn.

Mastercard acquires BVNK for 1.8 billion, Zerohash seeks high valuation financing, JPMorgan points out ETH's structural lag

According to BBX data, yesterday the layout of traditional payment institutions in the cryptocurrency infrastructure showed divergence, with institutions having clear differences in their views on ETH and the altcoin sector. The core dynamics are as follows:Mastercard Incorporated (NYSE: $MA) signed an acquisition agreement for the UK stablecoin infrastructure company BVNK on March 17 for a maximum of $1.8 billion (including $300 million in performance-based payments), which directly led Mastercard to abandon its previously pursued strategic investment plan in Zerohash (a privately held company). According to CoinDesk on May 19, Mastercard exited negotiations with Zerohash after the completion of the BVNK acquisition, and Zerohash is currently seeking to initiate a new financing round with a valuation of over $1.5 billion (higher than the $1 billion valuation established during the D-2 round of financing of $104 million in September 2025); the strategic logic behind Mastercard's acquisition of BVNK is that BVNK has a stablecoin payment infrastructure covering over 130 countries and a difficult-to-replicate combination of multi-country payment licenses; Mastercard's Chief Product Officer Jorn Lambert stated that the goal is to integrate stablecoins into the core network of Mastercard Move cross-border payments, rather than treating them as a peripheral experiment.JPMorgan Chase & Co. (NYSE: $JPM) analysts cited by CoinDesk on May 19 released the latest research report indicating that in the current market environment, Ethereum and the broader altcoin sector will continue to lag behind Bitcoin, primarily due to three structural weaknesses: weak network activity, stagnation in DeFi ecosystem growth (Solana's TVL has dropped from a peak of $13.1 billion in 2025 to about $5.5 billion), and limited real-world adoption scenarios; analysts believe that for the altcoin sector to catch up with Bitcoin's performance, a "significant network activity explosion" is a prerequisite, and this condition currently lacks visible short-term catalysts.

Mastercard abandons investment in Zerohash and shifts focus to BVNK for stablecoin payment infrastructure

Mastercard has abandoned its investment plan for the cryptocurrency infrastructure company Zerohash, which had previously agreed in March to acquire the UK stablecoin infrastructure company BVNK for $1.8 billion. Mastercard had considered a strategic investment in Chicago-based Zerohash in January of this year. At that time, Zerohash was seeking to raise $250 million at a valuation of $1.5 billion, while the company is currently advancing a new funding round at a higher valuation. Founded in 2017, Zerohash primarily provides APIs and developer tools for cryptocurrencies, stablecoins, and tokenized products.Meanwhile, recent transactions involving Kraken's parent company Payward and Bullish indicate that consolidation in the digital asset infrastructure sector is ongoing. In terms of stablecoin payment arrangements, Mastercard has acquired BVNK for $1.8 billion and may pay an additional $300 million in performance-based compensation. BVNK currently serves payment and payroll platforms like Worldpay and Deel for cross-border payments, fund settlement, and financial management.Mastercard plans to integrate BVNK's technology into its Mastercard Move network to support 24/7 stablecoin settlement for payment institutions and merchant acquirers, and to explore adding stablecoin checkout functionality in payment gateways. Analysts believe that this transaction will further intensify the competition between Mastercard and Visa in the networked strategy of payment networks and accelerate the evolution of traditional cross-border clearing systems towards stablecoin settlement models.

Mizuho: Mastercard is expected to become a connection layer between cryptocurrency and fiat currency after acquiring BVNK

Investment bank Mizuho stated that after acquiring the stablecoin infrastructure company BVNK, Mastercard is expected to become a "network connector" linking crypto assets with fiat currency systems, further expanding its payment ecosystem.Analysis indicates that stablecoins will not undermine Mastercard's core card payment business; instead, they will serve as an "accelerator" for its network, particularly in areas such as B2B cross-border payments, remittances, and the creator and gig economy, facilitating faster, lower-cost, 24/7 capital flow. Mizuho maintains an "outperform" rating on Mastercard and sets a target price of $666.Analysts believe that in the aforementioned emerging scenarios, the penetration rate of traditional bank cards remains relatively low, and stablecoins are expected to fill this gap, while card payments will continue to serve as the core entry point for consumers. It is reported that Mastercard has agreed to acquire BVNK for up to $1.8 billion. This transaction is seen as an important step in continuing its role as a "network connector," expanding its business into the conversion and settlement between stablecoins and fiat currencies.Against the backdrop of a gradually loosening regulatory environment and traditional payment giants like Visa and Stripe accelerating their layout in stablecoins, stablecoins are becoming an important growth direction for the global payment system.
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