Ruisui: After Mastercard acquires BVNK, it is expected to become a "network connector" between cryptocurrency and fiat currency
According to The Block, Mizuho analysts Dan Dolev and Alexander Jenkins stated that after Mastercard's acquisition of the stablecoin startup BVNK, it is expected to become a "network connector" between fiat and cryptocurrency. The analysts pointed out that stablecoins will serve as accelerators for existing networks rather than threats, especially in areas such as B2B cross-border payments, remittances, the creator economy, and the gig economy, where card penetration is limited, and stablecoins can unleash faster, cheaper, and round-the-clock payment capabilities.The analysts maintained Mastercard's "outperform" rating, with a target stock price of $666. Mastercard previously announced plans to acquire BVNK for $1.8 billion, which provides fiat and cryptocurrency deposit and withdrawal channels, stablecoin and tokenized deposit conversions, cross-chain functionality, and wallet infrastructure. Mizuho noted that BVNK's licensing framework allows clients to quickly launch their businesses and supports a long-term transition to self-managed banking infrastructure; meanwhile, Mastercard has joined a global crypto partnership program consisting of over 85 crypto-native companies.