Mastercard (M) in Talks to Acquire Crypto Startup Zero Hash: Report
Mastercard (MA) is reportedly eyeing to acquire blockchain infrastructure startup Zero Hash as the competition for stablecoin payments is heating up.
The global payments and card provider is in late stage talks and could pay $1.5 billion-$2 billion for the crypto firm, Fortune reported on Wednesday citing sources familiar with the matter. That comes as Mastercard might be losing out against Coinbase on bidding for crypto payments firm BVNK, the report added.
The news comes as stablecoins, or cryptocurrencies tied to fiat money like the U.S. dollar, have emerged as the next frontier for global payment flows. These digital tokens aim to offer cheaper, faster alternative to traditional rails by settling on blockchains, circumventing banks….
