Stripe, Mastercard, and Circle Acquire Three Stablecoin Companies in Deals Exceeding $3 Billion

In the past two years, Stripe, Mastercard, and Circle have each acquired three stablecoin companies, with a total transaction value exceeding $3 billion. Stripe acquired the U.S. stablecoin infrastructure company Bridge in 2024 for slightly over $1 billion; Mastercard acquired the U.K. stablecoin infrastructure company BVNK, with a total transaction value of up to $1.8 billion, including $1.5 billion in base consideration and $300 million in contingent consideration; Circle agreed to acquire the Singapore cross-border payment platform Tazapay for $400 million in stock, with the deal expected to close in 2027. Bridge, BVNK, and Tazapay were established between 2020 and 2022, raising a total of approximately $200 million in funding. The growth in stablecoin adoption, the gradual clarification of regulatory frameworks, and the rising demand for real-time cross-border payments are the main factors driving these mergers and acquisitions. The adjusted transaction volume of stablecoins is expected to grow by 91% year-on-year in 2025, reaching $10.9 trillion, approaching Visa's $14.2 trillion; the scale of real-world payments has more than doubled, reaching approximately $390 billion.

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