Mastercard plans $2 billion Zerohash purchase to bring stablecoin infrastructure into mainstream payments

Mastercard is in advanced talks to acquire Zerohash for about $1.5 billion to $2.0 billion, a scale that would place stablecoin plumbing inside one of the largest payment networks. If completed, the transaction would bring blockchain settlement closer to day to day card flows and speed up experiments in tokenized money for cross border transfers and corporate treasury.

It is reported that negotiations are ongoing at a price near $2 billion and that the deal is not closed. Zerohash, founded in 2017, provides white label infrastructure for trading, custody, and stablecoin services. The company recently raised more than $100 million, lifting its valuation to above $1 billion, according to the same report. Reuters also notes that Morgan Stanley plans to enable E*Trade crypto trading in 2026 using Zerohash, underscoring enterprise demand for compliant back end providers. Mastercard and Zerohash declined to comment.

Traditional networks are shifting from proofs of concept to production infrastructure as stablecoin volumes and custody needs expand. Buying rather than building compresses time to market, delivers immediate client integrations, and can reduce operational risk versus stitching together multiple vendors. The competitive read through is direct for Visa and for large processors that have been piloting stablecoin settlement and tokenized deposits.

If regulators clear it, a transaction near $2 billion would rank among the largest stablecoin infrastructure bets by an incumbent and would likely spark more consolidation. Track three items next: formal confirmation and final consideration, the scope of integration across cross border payments and treasury, and any antitrust or prudential conditions that shape rollout. A green light could trigger follow ons from other networks and banks that want similar on chain capabilities.