Mastercard is reportedly in advanced negotiations to acquire the cryptocurrency startup Zerohash for a sum estimated between $1.5 billion and $2 billion. This potential deal, if finalized, would mark one of Mastercard’s most significant investments in the stablecoin sector, although there remains a possibility that the discussions might not reach a satisfactory conclusion.
As the payment landscape evolves, card companies are increasingly integrating stablecoins—cryptocurrencies linked to stable assets such as the U.S. dollar—into their payment systems. This shift is seen as a move towards a faster, more cost-efficient, and secure alternative to traditional payment methods, while also leveraging the advantages of blockchain technology.
Mastercard has recognized the burgeoning potential of stablecoins through partnerships with various firms, including Crypto.com, OKX, and Kraken, which further highlights its commitment to this new financial frontier. Zerohash, established in 2017, specializes in developing robust infrastructure for stablecoin and blockchain services, enabling financial firms like Mastercard to offer a range of services such as cryptocurrency trading, custody, and staking.
Recently, Morgan Stanley announced plans to incorporate cryptocurrency trading on its E*Trade platform by the first half of 2026, leveraging a partnership with Zerohash. Earlier this year, Zerohash concluded a financing round exceeding $100 million, which boosted its valuation to over $1 billion. This funding round attracted notable investments from firms such as Interactive Brokers, Morgan Stanley, and SoFi, among others.
The discussions regarding the potential acquisition of Zerohash come on the heels of earlier talks between Mastercard and Coinbase concerning the purchase of another stablecoin startup, BVNK, priced at around $2 billion. However, it appears that Coinbase has emerged as the frontrunner in that negotiation and currently holds exclusivity over BVNK.
While both Mastercard and Zerohash have chosen not to comment on the ongoing talks, the developments reflect a growing trend among financial firms to pursue innovative solutions in the rapidly evolving cryptocurrency space.
