Mastercard has significantly broadened its stablecoin capabilities on two fronts, underscoring the payments giant's strategic pivot toward blockchain-based settlement. Bahrain-based fintech Infinios activated live stablecoin settlement services in partnership with Mastercard, while Mastercard simultaneously completed the acquisition of BVNK, a leading stablecoin payments infrastructure provider processing over $30 billion in annualized transaction volume. The dual move positions Mastercard at the center of the evolving digital payments landscape.
Infinios becomes first issuer in Bahrain to settle with stablecoins
Infinios, regulated by the Central Bank of Bahrain, announced it had commenced operational stablecoin settlement as a principal member of the Mastercard network. The launch allows institutional clients to fund and settle transactions using regulated stable digital currencies, offering an alternative to traditional fiat-only rails. CEO Sherif Abdelsalam called it a milestone for faster, more transparent money movement that reinforces Bahrain's role as a regional fintech hub. Mastercard's regional director Saud Sawar highlighted the company's effort to accelerate reliable digital settlement infrastructure through the collaboration.
Acquisition of BVNK and Open USD consortium membership
Just weeks earlier, Mastercard finalised its acquisition of BVNK for up to $1.8 billion, including performance-based contingent payments. BVNK's platform enables banks, fintechs, and enterprises to seamlessly bridge fiat and blockchain-based stablecoins across 130+ countries and multiple public blockchains. Mastercard now owns a stablecoin payments rail that already handles roughly $30 billion in annualised volume. Concurrently, Mastercard joined Visa as a founding participant in the Open Standard consortium behind Open USD, an industry-owned digital dollar that allows businesses to mint and redeem tokens without volume restrictions. Reserve earnings will be shared among consortium members after fees, aligning incentives across traditional and crypto-native firms.
The moves reflect a broader shift where legacy payment networks are embedding stablecoin settlement directly into their infrastructure. By combining BVNK's technology with its global merchant and banking relationships, Mastercard aims to offer institutional clients integrated fiat-to-stablecoin services without requiring in-house blockchain expertise. The initiative follows the US GENIUS Act, which established a federal framework for payment stablecoins, encouraging major financial players to accelerate digital asset strategies. Mastercard's leadership in both the Bahrain launch and the Open USD ecosystem signals that stablecoin settlement is becoming a core pillar of its future payments architecture, not a niche experiment.
