Payment giant Mastercard is set to acquire cryptocurrency startup Zerohash, with the deal valued at $2 billion, according to Fortune, citing anonymous sources.
Zerohash, a Chicago-based platform founded in 2017, provides technological and regulatory tools for banks, fintech companies, and brokers. These tools enable clients to launch cryptocurrency trading, stablecoins, and asset tokenization projects.
In September, the startup was valued at $1 billion during a Series D funding round of $104 million, led by Interactive Brokers with support from Morgan Stanley and SoFi.
Mastercard has been engaging with the crypto industry for several years and has recently been actively exploring the stablecoin sector.
In April 2025, the company announced a partnership with Circle, Paxos, and Nuvei, launching payments in stablecoins. In September, Mastercard supported Kazakhstan’s central bank in launching a stablecoin pilot project.
Visa Bets on Stablecoins
Mastercard’s competitor, Visa, is also actively developing its digital assets strategy, focusing on stablecoin integration. Analysts at investment bank William Blair believe this initiative will be a key driver of the firm’s future stock growth, reports The Block.
Earlier, Visa CEO Ryan McInerney confirmed that the company will add support for four stablecoins on various blockchains.
Experts Andrew Jeffrey and Christopher Kennedy suggest that the main opportunity for stablecoins lies in cross-border corporate payments rather than domestic consumer transactions.
William Blair noted that international operations account for less than 15% of Visa’s total payments. However, the company is well-positioned to capture a share of the approximately $20 trillion market as digital payment systems are adopted.
Analysts also described Visa’s stock underperformance as “unsustainable,” with shares rising about 10% since the beginning of the year compared to a 17% increase in the S&P 500 index. They predict a “rapid recovery” in the stock’s value.
William Blair reaffirmed its “outperform” rating for Visa’s shares, forecasting growth of more than 15% over the next 12 months.
The note also mentioned that a William Blair-affiliated company is a market maker for Visa securities and expects to receive compensation for investment banking services in the next three months.
Back in May, the company invested in the UK startup BVNK, which is developing infrastructure for stablecoin transactions.