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According to Fortune, Mastercard is ready to take a big leap into crypto infrastructure. The payments giants is reportedly in "late-stage talks" to acquire custody startup ZeroHash.
What's the Scoop?
- Acquisition Rumors: Fortune is reporting that Mastercard is in late-stage negotiations to acquire Zerohash – a leading provider of crypto and stablecoin infrastructure – in a deal valued between $1.5B and $2B. While not yet been finalized, the acquisition would mark Mastercard’s largest-ever investment into the digital asset arena.
- Existing Presence: Although not quite a direct player in the crypto industry, Mastercard frequently engages in pilot programs with the industry. For example, Mastercard expanded its emerging market USDC settlement partnership with
Circle in August and joined the 
Paxos "Global Dollar Network" in June. - Mastercard's Pivot: Earlier this month, Mastercard and
Coinbase were reportedly engaged in a contested bidding war for stablecoin firm BVNK. Coinbase was allegedly closer to winning the deal, and it appears that Mastercard's focus shift to ZeroHash will fill its infrastructure void. - Recent Raise: In September, ZeroHash raised $104M at a $1B valuation through a Series D-2 raise led by stock brokerage Interactive Brokers with participation from Morgan Stanley, SoFi, Apollo Global, and more.
another crypto M&A scoop w/ @leomschwartz: after losing out to coinbase on BVNK, mastercard is poised to acquire Zerohash for between $1.5 and $2 billion, according to sources familiar with the deal pic.twitter.com/2mqXc1tQrJ
— Ben Weiss (@bdanweiss) October 29, 2025
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