BVNK & stablecoin settlement by Mastercard: status and timeline

BVNK & stablecoin settlement

Make Mastercard the link between ordinary money and blockchain dollars, so cross-border business payments, payouts and settlement can run around the clock instead of on banking hours.

ScalingStage 5 of 5

BVNK deal closed Aug 2026; stablecoin card settlement rolling out from the US and Latin America.

Updated 3 Aug 2026Checked 11 Oct0 updates this week

Milestones

Next · Integrate BVNK into Mastercard's network and gateway

USDC and EURC settlement for acquirers in EEMEAAug 2025Complete.
Agreement to buy BVNK for up to $1.8B17 Mar 2026Complete.
Stablecoin card settlement announced: six stablecoins on eight chains3 Jun 2026Complete.
BVNK acquisition completed3 Aug 2026Complete.
Integrate BVNK into Mastercard's network and gatewayTarget 2026Current milestone.
Stablecoin card settlement rolled out beyond the first banksTarget 2026Not yet reached.

Most important updates

Upcoming

2026Integrate BVNK into Mastercard's network and gateway (next)
2026Stablecoin card settlement rolled out beyond the first banks

Current obstacles

Integration of a startup into a giantBVNK's products, licences and teams must plug into Mastercard's network and gateway without disrupting existing BVNK customers.
Small share of payments so farBVNK's ~$30B a year is tiny next to card volumes, and up to $300M of the price depends on hitting performance targets.
Competition for the same roleVisa, Stripe (which owns Bridge) and others are building the same fiat-to-stablecoin bridge for the same customers.

Physics limits

A stablecoin is only as good as its reservesEach token is a claim on cash and short-term bonds held by an issuer. The blockchain moves the token instantly, but redeeming it still depends on that issuer and the banks behind it.
Every chain is its own islandBlockchains do not natively talk to each other, so moving dollars between them needs bridges or issuer burn-and-mint, each adding delay, cost or risk.
Fiat edges still run on banking hoursThe on-chain leg works 24/7, but turning stablecoins into money in a local bank account still waits on local payment systems and their cut-off times.

How it works

3 parts

One API

Send, receive, store, convert

A business holds bank money and stablecoins in one account and pays out either way; BVNK handles the conversion and the compliance checks.

Rails

Stablecoins as the fast middle leg

Money leaves as dollars or euros, crosses borders as a stablecoin in minutes at any hour, and lands as local currency, skipping slow correspondent banks.

Settlement

Banks settle cards on-chain

Card issuers and acquirers will be able to square up with Mastercard in USDC, PYUSD, RLUSD and others, intraday and on weekends, not only on bank days.

Spec sheet

Spec	BVNK & stablecoin settlement
Acquisition price (max)	Up to $1.8B^R (reported)
BVNK stablecoin volume (end-2025)	About $30B^R (reported)
Stablecoins accepted for settlement	6^R (reported)
Blockchains for settlement	8^R (reported)
BVNK countries supported	130+^R (reported)

^R reported by the company

Update log

3 updates

About Mastercard

The team behind BVNK & stablecoin settlement

Mastercard

Card network, BVNK stablecoin rails

Mastercard runs one of the two global card networks. In August 2026 it closed its purchase of BVNK, a London stablecoin payments firm, for up to $1.8B, and it is opening card settlement to regulated stablecoins.

Bought BVNK for up to $1.8B (closed Aug 3, 2026), the largest stablecoin acquisition at the time it was agreed.
BVNK moved about $30B a year in stablecoin payments by end-2025, for firms like Worldpay, Deel, Rapyd and Flywire.
Since June 2026 it is opening card settlement to six stablecoins on eight blockchains, starting in the US and Latin America.

mastercard.com (opens mastercard.com)Company profile →

Founded: 196660 yrs
Headquarters: United States
Status: Public
Listed: MA (opens google.com)NYSE
Valuation: public
Staff: ~39,800Jan 2025
Works in: CryptoStablecoins & tokenization
Coverage: 1 program · 3 updateslatest 3 Aug 2026checked 11 Oct
Customers: Cross River
Partners: BVNK (opens investor.mastercard.com)Circle (opens mastercard.com)
People: Michael Miebach (opens en.wikipedia.org)CEOJorn LambertChief Product OfficerJesse Hemson-StruthersBVNK co-founder and CEO

Spec

BVNK & stablecoin settlement

Acquisition price (max)

Up to $1.8B^R (reported)

BVNK stablecoin volume (end-2025)

About $30B^R (reported)

Stablecoins accepted for settlement

6^R (reported)

Blockchains for settlement

8^R (reported)

BVNK countries supported

130+^R (reported)

BVNK & stablecoin settlement

Milestones

Most important updates

Upcoming

Current obstacles

Physics limits

How it works

Send, receive, store, convert

Stablecoins as the fast middle leg

Banks settle cards on-chain

Spec sheet

Update log

Mon 3 Aug

Wed 3 Jun

Tue 17 Mar

About Mastercard

Current obstacles

Physics limits

How it works

Send, receive, store, convert

Stablecoins as the fast middle leg

Banks settle cards on-chain

Spec sheet

Update log

Mon 3 Aug

Wed 3 Jun

Tue 17 Mar

About Mastercard