Mizuho: Mastercard's acquisition of BVNK could make it a "connecting layer" between crypto and fiat currencies.

Investment bank Mizuho stated that after acquiring stablecoin infrastructure company BVNK, Mastercard is expected to become a "network connector" linking crypto assets and the fiat currency system, further expanding its payment ecosystem. Analysts point out that stablecoins will not weaken Mastercard's core card payment business; instead, they will become an "accelerator" for its network, especially in areas such as B2B cross-border payments, remittances, and the creator and gig economy, driving faster, lower-cost, and 24/7 fund flows. Mizuho maintains its "outperform" rating on Mastercard and gives it a target price of $666. Analysts believe that in these emerging scenarios, the penetration rate of traditional bank cards remains low, and stablecoins are expected to fill this gap, while card payments will remain a core entry point for consumers. It is understood that Mastercard has agreed to acquire BVNK for up to $1.8 billion. This transaction is seen as an important step in continuing its role as a "network connector," expanding its business to the conversion and settlement between stablecoins and fiat currencies. With the regulatory environment gradually easing and traditional payment giants such as Visa and Stripe accelerating their deployment of stablecoins, stablecoins are becoming an important growth direction for the global payment system.