Stripe, Mastercard and Circle Expand Stablecoin Payments Through Deals

Stripe, Mastercard and Circle are expanding their stablecoin payment operations through acquisitions that cover transaction infrastructure, fiat connectivity and cross-border payouts.

Mastercard completed its acquisition of BVNK on Aug. 3 after agreeing to pay up to $1.8 billion, including up to $300 million in contingent payments. BVNK connects traditional currency systems with blockchain-based payments and supports transactions across more than 130 countries.

Stripe completed its acquisition of Bridge on Feb. 4, 2025. Bridge provides infrastructure for stablecoin transactions, but Stripe did not disclose the purchase price.

Circle agreed Sept. 8 to acquire Tazapay, a Singapore-based cross-border payments platform. The deal is expected to close in 2027, subject to regulatory approvals, including approval from Singapore’s Monetary Authority.

Tazapay handles more than $25 billion in annualized payment volume across more than 100 markets and works with more than 60 banking and fintech partners. Stablecoins account for approximately 60% of its transaction volume.

Together, the transactions show how major payment firms are targeting different layers of the stablecoin stack, from payment orchestration and settlement to local payout networks.