US EditionMastercard Poised to Buy Crypto Firm Zerohash for Nearly $2 Billion, Fortune Reports
Mastercard aims to expand its crypto infrastructure with Zerohash acquisition valued up to $2 billion, reflecting growing interest in stablecoins as payment solutions.
- On Wednesday, Mastercard is in late-stage talks to acquire Zerohash, a Chicago-based stablecoin and blockchain infrastructure startup, for between $1.5 billion and $2 billion, Fortune reported citing five sources.
- In recent months Mastercard has pushed further into stablecoins, joining a consortium with Robinhood and Kraken as stablecoin companies gained prominence over the past year, following Stripe's $1.1 billion Bridge acquisition.
- Having raised $104 million in September at a $1 billion valuation, Zerohash processed $2 billion in tokenized fund flows and is backed by Interactive Brokers, Apollo and Point72 Ventures.
- If closed, the purchase would rank among Mastercard's biggest stablecoin bets, but Mastercard might be losing out against Coinbase on related bidding, while spokespeople for Mastercard, Zerohash and Coinbase declined to comment.
- Stablecoin payment volume could reach $1 trillion by 2030, according to a Keyrock and Bitso report, as proponents argue stablecoins offer faster, cheaper settlement than traditional rails like wires and SWIFT.
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What Happened in Crypto Today?
Hi! In today’s edition: Mastercard nears $2B Zerohash acquisition Bitcoin ETFs see $470M outflows after Fed rate cut Trump memecoin firm eyes Republic.com buyout Ondo expands tokenized stocks to BNB Chain TL;DR Mastercard is in talks to acquire stablecoin infrastructure provider Zerohash for $2 billion, the largest crypto deal since Stripe’s Bridge acquisition, while bitcoin ETFs shed $470 million after the Fed’s latest rate cut. This week’s de…
Mastercard poised to buy crypto firm Zerohash for nearly $2 billion, Fortune reports
Mastercard is in late-stage talks to acquire crypto startup Zerohash for between $1.5 billion and $2 billion, Fortune reported on Wednesday, citing five sources familiar with the matter.If the deal goes through, it would be Mastercard's one of the biggest bets yet on stablecoins, the report said, adding the t
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