Mastercard (MA) is in late-stage talks to acquire Zerohash, a crypto and stablecoin infrastructure startup, for $1.5B-$2.0B, according to a media report on Wednesday.
If the deal closes, it would be one of Mastercard’s (MA) biggest investments yet on stablecoins, the digital currencies, a Fortune reported, citing people familiar with the matter. However, the transaction could still fall apart, they said.
Stablecoins are digital currencies that are pegged to an underlying asset, such as the U.S. dollar. Many payment companies and banks are exploring the use of stablecoins to move money faster and at a lower cost.
Mastercard (MA) shares fell 2.0% in Wednesday regular-hours trading. Mastercard reports its Q3 earnings on Thursday before the market opens.