Mastercard is reportedly in late-stage talks to acquire crypto infrastructure startup Zerohash in a deal valued between $1.5 billion and $2 billion, according to a report by Fortune.
The move would mark one of Mastercard’s biggest bets yet on stablecoins and blockchain-based settlement, underscoring the payments giant’s growing commitment to on-chain financial infrastructure.
Founded in 2017 and headquartered in Chicago, Zerohash provides the backend infrastructure that enables fintechs, brokers, and merchants to integrate crypto, stablecoin, and tokenization services through APIs.
Its offerings include compliant custody, conversions, and payouts, enabling regulated financial institutions to add digital asset functionality without directly handling custody or complex blockchain operations.
For Mastercard, bringing Zerohash’s technology in-house could significantly accelerate its stablecoin settlement capabilities.
The acquisition would give the card network greater control over how fiat and digital assets move across its rails, aligning with its broader goal of building always-on, programmable financial flows for corporate clients and marketplaces.
The potential deal comes amid a wave of consolidation in the stablecoin and crypto infrastructure space.
Stripe recently acquired stablecoin firm Bridge for roughly $1.1 billion, while Coinbase is in advanced talks to buy BVNK, a London-based startup focused on on-chain payments, a transaction that could become the largest pure-play stablecoin acquisition to date.
Mastercard has already been testing on- and off-ramp services with select crypto partners and piloting programs that convert digital asset balances into spendable fiat at the point of sale.
Acquiring Zerohash could allow the company to integrate those experiments more deeply into its global payment network and shorten onboarding timelines for fintechs and merchants.
If finalized, the Zerohash deal would signal Mastercard’s intent to embed stablecoin and blockchain settlement directly into its core infrastructure, as banks and payment providers increasingly turn to tokenized money for faster, lower-cost cross-border transactions.