Mastercard in Talks to Acquire Stablecoin Tech Firm Zerohash for Around $2 Billion

Mastercard is reportedly in advanced discussions to acquire the stablecoin infrastructure firm Zerohash for a cost ranging from $1.5 billion to $2 billion. This potential acquisition follows reports that Mastercard and Coinbase were considering purchasing stablecoin startup BVNK, also valued similarly. The surge in stablecoin activity reflects an increase of about $100 billion in their total market cap this year, largely due to favorable regulatory environments and heightened interest from financial institutions. Zerohash's collaboration with Morgan Stanley enables ETrade customers to trade major cryptocurrencies like Bitcoin and Ethereum. This potential acquisition is indicative of Mastercard's strategy to strengthen its position within the evolving stablecoin sector, which is expected to continue growing significantly, with projections estimating a market value of $750 billion by the end of 2026. The deal would surpass the previous significant acquisition of stablecoin firm Bridge by Stripe for $1.1 billion, emphasizing the competitive landscape within this burgeoning market.

Source 🔗