According to CoinMeta, and as reported by Coindesk, payment company Mastercard recently completed the acquisition of stablecoin infrastructure company bvnk for a transaction amount of $1.8 billion. The deal was struck after fierce competition between Coinbase and Visa. Although Coinbase was said to have made a higher bid, bvnk ultimately chose Mastercard due to greater cultural compatibility between the two parties and stronger strategic synergy. Major payment market participants, including Stripe, Visa, Mastercard, and Coinbase, are vying to establish a presence in the stablecoin market, which is valued at approximately $300 billion.