Mastercard is reportedly in late‐stage negotiations to acquire crypto infrastructure firm ZeroHash for a price between $1.5 billion and $2 billion, according to a report by Fortune. The move would mark one of Mastercard’s largest bets yet in the stablecoin and blockchain‐payments space.
Stablecoins are cryptocurrencies linked to regular currencies like the U.S. dollar or the Euro. They are becoming a major new way to move money around the world. They use blockchain technology to make payments faster and cheaper, without relying on bank
Why Mastercard may be interested
Mastercard’s potential purchase of ZeroHash points to a strategy that goes beyond cards and traditional payments. By owning a stablecoin‐infrastructure provider, it gains access to blockchain rails and digital-asset settlement capabilities. Analysts view this as a hedge against disruption and a push into cross-border, faster, lower-cost payments enabled by stablecoins.
A Reuters reports acknowledges that Mastercard has for long recognized the potential of stablecoins, which is reflected in its partnerships with companies such as Crypto.com, OKX and Kraken.
Moreover, stablecoin payment volumes in the broader market are projected to approach $1 trillion by 2030, driven by institutional and cross-border use. Mastercard would definitely not want to miss out on this growing opportunity.
What is ZeroHash?
ZeroHash is a Chicago-based startup founded in 2017 that provides B2B crypto and stablecoin infrastructure. It enables banks, fintechs, and brokerages to embed services like trading, custody, staking, and tokenization via APIs and compliant rails.
In recent months, the company processed roughly $2 billion in tokenized fund flows. Last month, Morgan Stanley announced it plans to launch crypto trading on its E*Trade platform starting in early 2026, teaming up with Zerohash to make it happen.
Earlier this year, Zerohash raised just over $100 million in funding, pushing its valuation past $1 billion. The round was led by Interactive Brokers, with Morgan Stanley, SoFi, and others also investing. According to the Fortune report, this potential deal with Zerohash comes after Mastercard and Coinbase both explored buying stablecoin startup BVNK for around $2 billion. Coinbase now appears to be the frontrunner and is in exclusive talks with BVNK.