Mastercard is reportedly trying to buy Zerohash, a stablecoin infrastructure company, for $2 billion, according to Fortune. Five unnamed sources familiar with the deal spilled the beans to the outlet.
This would actually be the second major stablecoin acquisition Mastercard’s been chasing this month. Earlier in October, both Mastercard and Coinbase were reportedly in late-stage talks to buy another stablecoin startup called BVNK for around $2 billion.
Either deal would blow past what Stripe paid last year; they dropped $1.1 billion to acquire stablecoin startup Bridge. The stablecoin space has been absolutely heating up in 2025 thanks to friendlier regulations like the GENIUS Act, which finally gave companies a framework for issuing and trading stablecoins legally.
The numbers show why everyone wants in. The stablecoin market cap hit over $312 billion this year, up about $100 billion from where it started. Standard Chartered Bank thinks it’ll reach $750 billion by the end of 2026.
Zerohash just closed a $104 million funding round in September at a $1 billion valuation. They’ve raised $275 million total since 2017 and work with huge names like Interactive Brokers, Franklin Templeton, Stripe, and BlackRock.
Last month they partnered with Morgan Stanley to let E*Trade customers trade Bitcoin, Ethereum, and Solana. That kind of mainstream adoption is exactly why traditional finance giants are scrambling to get into stablecoins.
Conclusion
Mastercard is in advanced talks to acquire stablecoin infrastructure firm Zerohash for $2 billion, marking the second major stablecoin acquisition pursuit this month amid the market cap surging past $312 billion.
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