- Mastercard this week announced it was buying stablecoin infrastructure firm BVNK for $1.8 billion.
- The deal accelerates the payment giant’s move into the crypto space.
- Traditional financial firms are rushing to get involved with stablecoins.
Mastercard is the latest payments giant to bet heavily on crypto.
The $451 billion company added stablecoin infrastructure startup BVNK to its portfolio just as traditional financial players ramp up their adoption of blockchain technology.
Market watchers say the move is part of a bigger financial industry land grab where Wall Street giants are vying for dominance.
“Everyone wants the orchestrators,” Wyatt Lonergan, general partner at VanEck Ventures, told DL News. “Why? Because moving between…
