The potential deal signals Mastercard’s growing ambitions in stablecoin and tokenization infrastructure
Mastercard is reportedly in advanced discussions to acquire ZeroHash, a leading crypto and stablecoin infrastructure startup, in a deal valued between $1.5 billion and $2 billion, according to people familiar with the matter.
The talks, first reported on Wednesday, represent one of Mastercard’s largest potential moves in the digital asset space, following a series of acquisitions and partnerships aimed at strengthening its blockchain and tokenization capabilities.
If finalized, the acquisition would mark a major step toward expanding Mastercard’s stablecoin and tokenized payment services, amid increasing competition from global payment networks like Visa, Stripe, and PayPal.
ZeroHash’s Role in the Tokenized Economy
ZeroHash operates as an API-based infrastructure provider, allowing banks, fintechs, and brokers to embed crypto, stablecoins, and tokenized assets directly into their platforms.
According to the company, it supported over $2 billion in tokenized fund flows in just four months earlier this year. Its technology also powers several major tokenized investment products, including BlackRock’s BUIDL, Franklin Templeton’s BENJI Token, and Hamilton Lane’s HLPIF.
“Tokenization and stablecoins are redefining how money moves. Mastercard’s acquisition of ZeroHash would accelerate its role in the next generation of financial infrastructure,” said one industry analyst familiar with the deal.
Mastercard previously explored acquiring BVNK, another stablecoin startup, in a similar $2 billion range. However, sources said Coinbase outbid Mastercard, entering exclusivity talks with BVNK earlier this year.
Global Payments Firms Race Toward Stablecoins
The move comes as stablecoin adoption accelerates globally following new legislation in the United States and Europe.
In recent months, PayPal expanded its PayPal USD (PYUSD) across multiple blockchains including Avalanche, Tron, and Aptos, while Stripe unveiled its Open Issuance tool, enabling businesses to mint and manage their own stablecoins.
Meanwhile, Visa announced plans to support stablecoins across four additional blockchains, underscoring how the world’s largest payment networks are competing to own the future of tokenized money.
Mastercard’s pursuit of ZeroHash highlights a strategic shift: traditional finance is no longer watching crypto from the sidelines—it’s building directly on-chain.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.