Mastercard Eyes $2 Billion Deal to Acquire Crypto Startup Zerohash

Mastercard is reportedly in late-stage talks to acquire crypto startup Zerohash for up to $2 billion, marking a major move in the stablecoin space

Mastercard is reportedly in late-stage negotiations to acquire crypto startup Zerohash for a valuation between $1.5 billion and $2 billion, according to a report by Fortune on Wednesday. The deal, if finalized, would mark one of Mastercard’s largest bets on stablecoins and blockchain technology to date.

Both Mastercard and Zerohash declined to comment on the ongoing discussions. The report noted that while the deal is close, it could still fall through depending on the final terms and regulatory considerations.

Mastercard’s Expanding Stablecoin Ambitions

The potential acquisition underscores Mastercard’s growing interest in the stablecoin ecosystem, a segment of cryptocurrency pegged to assets like the U.S. dollar. Stablecoins are increasingly seen as a faster, cheaper, and more secure alternative to traditional cross-border payment systems.

Mastercard has been steadily integrating blockchain and crypto-related solutions through partnerships with major players such as Crypto.com, OKX, and Kraken. The company has also rolled out initiatives enabling users to make transactions with stablecoins and digital assets seamlessly.

Who is Zerohash?

Founded in 2017, Zerohash provides backend infrastructure for stablecoins, custody, crypto trading, and staking. Its technology helps financial institutions, fintechs, and payment firms like Mastercard offer crypto services without managing blockchain complexities directly.

Earlier this year, Zerohash raised over $100 million in a funding round, achieving a valuation exceeding $1 billion. The round was led by Interactive Brokers, with participation from Morgan Stanley, SoFi, and others.

Last month, Morgan Stanley announced plans to enable cryptocurrency trading on its E*Trade platform starting in 2026, in partnership with Zerohash — a move that signals growing institutional confidence in the crypto infrastructure provider.

Mastercard’s Strategic Move

The reported Zerohash acquisition follows earlier talks involving Mastercard and Coinbase over another stablecoin startup, BVNK, for around $2 billion. Coinbase, however, is now reportedly in exclusivity with BVNK.

If successful, the Mastercard–Zerohash deal could accelerate the financial giant’s push into digital asset payments, positioning it as a leader in stablecoin-enabled financial infrastructure for global commerce.