“For everything else there is Mastercard. The payments giant is in talks to acquire Zerohash, a startup specializing in stablecoin and blockchain infrastructure, for an estimated $1.5 billion to $2 billion. The deal will be Mastercard’s major bet on stablecoins, strengthening its position in the digital payments sector. Major steps in the industry continue. Key points of this article: Mastercard is negotiating […]”, — write: businessua.com.ua
For everything else there is Mastercard. The payments giant is in talks to acquire Zerohash, a startup specializing in stablecoin and blockchain infrastructure, for an estimated $1.5 billion to $2 billion. The deal will be Mastercard’s major bet on stablecoins, strengthening its position in the digital payments sector. Major steps in the industry continue.
Key points of this article:
- Mastercard is in talks to acquire Zerohash, a startup specializing in stablecoins and blockchain.
- It the acquisition would mark a significant bet by Mastercard on stablecoins, underscoring the growing interest of major companies in digital payments.
Founded in Chicago in 2017, Zerohash develops solutions for payments stablecoins and cryptocurrency trading. Potential acquisition MasterCard followed negotiations with another stablecoin startup, BVNK, which appears to have won out in the end Coinbase .
companies, dealing with stablecoins, have become highly sought after, and after Stripe’s $1.1 billion acquisition of Bridge, other giants such as Coinbase and MasterCard, are looking to invest in this sector. Stablecoins offer benefits such as faster and less expensive transactions compared to traditional systems such as SWIFT.
Mastercard ready to spend $2 billion on Zerahash – Source: Account X
Stablecoins are of interest to major players in the payments sector. Bridge and BVNK focus on stablecoins for use cases such as payroll and cash management. Zerohash on the other hand, offers broader services, helping companies build their own trading platforms and providing APIs for tokenizing traditional financial assets. In September, the company attracted 104 million dollars reaching a valuation of $1 billion.
Although stablecoins can disrupt the business model MasterCard which is based on a transaction fee, the company has been active for several years in the the field of cryptocurrencies . In particular, in 2021, she purchased CipherTrace a blockchain analytics company. Most recently, the company joined a consortium specializing in stablecoins, along with Robinhood and Kraken.
If the deal with Zerohash goes through, it would be one of Mastercard’s largest investments in a stablecoin, underscoring the growing interest of major companies to blockchain-based digital payments.
Source: journalducoin.com
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