Mastercard Buys Stablecoin Firm BVNK for Up to $1.8 Billion (1)

Mastercard Inc. said it will acquire the stablecoin infrastructure startup BVNK for as much as $1.8 billion, four months after negotiations between BVNK and Coinbase Global Inc. for a roughly $2 billion deal fell apart.

The purchase price includes $300 million in contingent payments, the companies said in a statement Tuesday. They declined to comment on whether the deal was structured with cash or stock.

Traditional payment networks such as Mastercard and Visa Inc. are positioning themselves to remain the players of choice as emerging technologies become more prominent.

Mastercard, based in Purchase, New York, earlier ...