Mizuho: Mastercard's acquisition of BVNK is expected to make it a "network connector" between cryptocurrency and fiat currency.

CoinFeed reported on March 26th that, according to The Block, Mizuho analysts Dan Dolev and Alexander Jenkins stated that Mastercard's acquisition of stablecoin startup BVNK is expected to make it a "network connector" between fiat currency and cryptocurrency. The analysts pointed out that stablecoins will be an accelerator rather than a threat to existing networks, especially in areas such as B2B cross-border payments, remittances, the creator economy, and the gig economy, where card penetration is limited. Stablecoins can unlock faster, cheaper, and 24/7 payment capabilities. The analysts maintained their "outperform" rating on Mastercard with a target price of $666. Mastercard previously announced its plan to acquire BVNK for $1.8 billion. BVNK provides fiat-to-cryptocurrency deposit and withdrawal channels, stablecoin and tokenized deposit conversion, cross-chain functionality, and wallet infrastructure.