Mastercard In Talks To Purchase $2B Stablecoin Agency Zero Hash

Mastercard is in late-stage talks to purchase blockchain infrastructure agency Zero Hash for between $1.5 billion and $2 billion because the funds big strikes to increase its foothold in stablecoin settlement, Fortune reported, citing sources conversant in the matter.

It mentioned the deal would give Mastercard management of an entity that processed greater than $2 billion in tokenized fund flows this 12 months and raised $104 million in a funding spherical led by Interactive Brokers and Morgan Stanley in September.

Neither Mastercard nor Zero Hash has publicly commented on the report, however the transfer underscores how competitors within the stablecoin house is intensifying amongst main conventional finance corporations looking for sooner, borderless settlement programs.

A possible acquisition would mark Mastercard’s most important push but into blockchain-based funds, coming as rivals together with Visa, PayPal, and Western Union speed up their very own stablecoin initiatives following new US regulation.

Mastercard Could Lose Out To Coinbase In Bid To Purchase BVNK

Fortune mentioned Mastercard could lose out to Coinbase within the bid to amass fintech BVNK, which makes a speciality of stablecoin and fiat-to-blockchain cost infrastructure. 

Citing sources conversant in that deal, Fortune mentioned that Coinbase seems to have gained the bidding warfare and now has an unique association with the agency.

The report follows earlier information that Mastercard and crypto change Coinbase had been each holding talks to amass BVNK.

Extra TradFi Corporations Are Transferring Into Stablecoins

Mastercard’s transfer on Zero Hash comes as TradFi corporations step up their curiosity within the pink scorching stablecoin house.

Visa introduced within the firm’s fourth quarter earnings name that it plans to supply help for 4 stablecoins throughout 4 blockchains and likewise reported sturdy progress for its present stablecoin choices, which already helps some main stablecoins and main blockchain networks.

In the meantime, PayPal has already launched its personal stablecoin, the PayPal USD (PYUSDT) token.

Legacy agency Western Union this week additionally introduced that it’s working by itself stablecoin, referred to as the US Greenback Deposit Token (USDT). In its announcement, the corporate mentioned that it’s going to deploy the stablecoin on the Solana community and can difficulty the token by way of Anchorage Digital. The launch is scheduled for the primary half of 2026. 

There isn’t any bridge forex. There are stablecoins, on Solana.

I really like you. pic.twitter.com/b1TisRbEJi

— Solana (@solana) October 28, 2025

In the meantime, Citi and various main banks have additionally disclosed that they’re exploring stablecoins, whereas the Trump household launched the USD1 stablecoin by means of their decentralized finance (DeFi) platform referred to as World Liberty Monetary.

Exterior of the US, Japan introduced the launch of the primary yen-backed stablecoin earlier this month referred to as JPYC. That is the primary stablecoin launched in Asia that may be issued globally. 

Stablecoin Market Anticipated To Soar

The frenzy by conventional finance corporations into the stablecoins house follows the regulatory readability the trade gained when President Trump signed the GENIUS Act into regulation in July. 

Stablecoins allow sooner settlement instances on the blockchain whereas additionally slicing out the intermediary. They permit person to transact with out borders with near-instant settlement instances. 

After the GENIUS Act was signed into regulation, the market capitalization of the stablecoin sector has surged greater than 20% to about $307 billion, based on DefiLlama.

Stablecoin market cap (Supply: DefiLlama)

Bernstein Analysis predicts that the worldwide circulation of stablecoins might increase to just about $2.8 trillion by 2028, whereas Normal Chartered says stablecoins might pull in $1 trillion from banks in rising markets over the subsequent three years.

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