Mastercard Buys Stablecoin Firm BVNK for Up to $1.8 Billion

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.