Mastercard (MA) is set to acquire crypto startup Zerohash in a nearly $2 billion deal, according to a Fortune report on Wednesday. Per the report that cites five sources familiar with the deal, the deal may still fall through, but if closed, it would represent one of Mastercard’s biggest bets yet on stablecoins.
Zerohash is a Chicago-based stablecoin builder and blockchain infrastructure, including enabling payments and crypto trading. Mastercard’s acquisition would reinforce its position in the growing stablecoin market, especially against Visa (V).
As the crypto industry has surged in the past year, stablecoins have led the charge, with institutional interest at an all-time high. Stablecoins have certain benefits that traditional credit cards cannot provide. Firstly, stablecoins have near-zero transaction fees. Credit cards, on the other hand, can charge up to 3.5% in fees and have higher annual costs. Additionally, stablecoins also save a lot more time. Transaction speeds can range from a few seconds to just a few minutes on the blockchain. Credit card transactions, on the other hand, can take from one to three business days.
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Spokespeople for Mastercard and Zerohash have yet to comment on the deal, but will likely share a joint statement once the $2 billion deal is finalized. The crypto infrastructure startup has reportedly raised $104 million in funding with backing from financial firms, including Morgan Stanley and SoFi, as of September 2025.