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MN-50015

Mastercard / BVNKMN-50015

View on ACCC

Processing timeline

26

days

Filed

15 May 2026

Mastercard - BVNK - Phase 1 determination

Decision

10 June 2026Mastercard - BVNK - Phase 1 determination
Type
Notification
Outcome
Approved
Stage
Phase 1 - initial assessment
Status
Assessment completed

Parties

Acquirer(s)

Mastercard Incorporated 3390142, Ares UK Holdco 2 Limited CRN 17107097, Mastercard International Incorporated 648928

Target(s) or Vendor(s)

B Corporation S.A.M 23S09602, BVNK Holdings Limited 13922014

Other parties

None listed

Summary

Mastercard, a global payments technology company, acquired BVNK Holdings Limited and B Corporation S.A.M (BVNK) via a share acquisition. BVNK provides stablecoin infrastructure services, enabling management of stablecoins and fiat currency. This combines traditional payments with cryptocurrency infrastructure.

Acquisition details

Mastercard Incorporated International ( Mastercard ) through its subsidiary Ares UK Holdco 2 Limited proposes to acquire BVNK Holdings Limited and B Corporation S.A.M (together, BVNK ) from its current shareholders (the Acquisition ). Mastercard is a technology company in the global payments industry. Mastercard’s main activities include ownership and operation of payment card schemes and provision of switching services for card transactions. Mastercard provides a payments network to facilitate the switching of payment transactions in fiat, and offers payment capabilities that include automated clearing house transactions as well as other payment-related services. BVNK supplies stablecoin infrastructure services, by building and supplying infrastructure to enable customers to send, receive, convert, spend and earn stablecoins and 'fiat' currency across a variety of payment 'rails' and blockchains. Stablecoin is a type of cryptocurrency designed to keep a stable value, usually by being pegged to a traditional 'fiat' currency.

Industry

Broad:Financial Services & InsuranceANZSIC 6419:Other Auxiliary Finance and Investment Services

Decisions and key events

10 June 2026Mastercard - BVNK - Phase 1 determinationAttachmentPDF153.9 KB

Other documents

18 May 2026Mastercard - BVNK - Questionnaire - May 2026AttachmentDOCX61.4 KB

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