Mastercard Engaged in Advanced Negotiations to Purchase Crypto Firm Zerohash: Report

Mastercard's Acquisition Talks: Mastercard is in advanced discussions to acquire cryptocurrency startup Zerohash for an estimated $1.5 to $2 billion, marking a significant move into the stablecoin sector.

Zerohash's Role: Zerohash provides infrastructure for financial institutions to integrate cryptocurrencies and stablecoins into their products, aligning with Mastercard's strategy to embrace the digital economy.

Market Context: The potential acquisition comes as other major players, like Western Union, are also entering the stablecoin market, with plans to launch their own U.S. dollar-backed stablecoin.

Stock Performance: Following the news, Mastercard shares saw a slight increase of 0.11% in pre-market trading after a 2.01% decline in the previous session.