Mastercard Eyes $2B Zerohash Deal To Expand Crypto Clout

Core Insights - Mastercard is close to acquiring Zerohash for approximately $1.5 to $2 billion as part of its strategy to expand in the crypto space [1] - The acquisition aims to enhance Mastercard's capabilities in handling stablecoins and blockchain-based payments, allowing better control over money movement across its network [2] - If successful, this would mark Mastercard's largest move in the crypto sector, reflecting a trend among major financial companies towards blockchain for efficient international transfers [3] Group 1: Acquisition Details - Zerohash, founded in 2017, provides backend support for fintechs and financial institutions to integrate crypto features via APIs, including custody, conversions, and payouts [1][6] - The acquisition could enable Mastercard to offer faster, programmable payouts that operate continuously, similar to crypto transactions [4] Group 2: Market Context - The demand for 24/7 transaction support is driving banks to explore blockchain solutions, positioning companies like Zerohash as essential intermediaries between traditional banking and crypto systems [5] - The integration of Zerohash would simplify the process for fintechs and merchants to adopt crypto, particularly for payrolls and supplier payments, due to the instant settlement and clear record-keeping offered by stablecoins [7] Group 3: Competitive Landscape - The competition in the crypto space is intensifying, with Stripe acquiring a similar company, Bridge, for $1.1 billion, and Coinbase in discussions to acquire BVNK [3]