Mastercard posts strong quarter, moves deeper into stablecoins
-FePkpi2Z.png "Mastercard posts strong quarter, moves deeper into stablecoins")
Mastercard beat Q3 expectations on revenue and earnings and is in late-stage talks to acquire crypto-infrastructure firm Zero Hash for as much as $2 billion.
Mastercard reported net revenue of about $8.6 billion, up 17% year over year, and adjusted EPS of $4.38, both ahead of Wall Street estimates as consumer and corporate spending held up through September. CEO Michael Miebach said results were supported by healthy spending and strength in services. Shares were little changed around $555 in early trading, according to real-time quote pages.
The crypto angle is gaining weight. The company is negotiating to buy Zero Hash for between $1.5 billion and $2 billion, a deal that would give Mastercard deeper access to back-end stablecoin issuance, on/off-ramp plumbing and compliance workflows used by exchanges and fintechs.
The crypto angle is gaining weight. The company is negotiating to buy Zero Hash for between $1.5 billion and $2 billion, a deal that would give Mastercard deeper access to back-end stablecoin issuance, on/off-ramp plumbing and compliance workflows used by exchanges and fintechs.
Mastercard framed its growth outlook as intact, keeping guidance for 2025 net-revenue expansion at the high end of mid-teens, while pointing to resilient volumes and demand for its value-added services. The beat followed a strong print from Visa earlier this week, which also cited steady spending despite mixed macro signals.
Zero Hash would join Mastercard’s digital-asset stack, including Crypto Credential – a framework enabling exchanges and users to transact using aliases while still sharing Travel-Rule metadata to meet regulatory requirements. The program went live with peer-to-peer pilots last year and has since added partners across Europe, Latin America and the Middle East. For merchants and wallets, the pitch is fewer failed sends, simpler compliance and cleaner user flows as stablecoin payouts become more common.
For crypto desks, the Zero Hash talks matter because they intersect with stablecoin payments, where issuers and networks are racing to win enterprise volume. Zero Hash provides APIs for custody, transfers and on-ramps that power consumer apps and brokerages; securing that capability could let Mastercard stitch stablecoin settlement into more of its merchant and fintech flows rather than treating it as a bolt-on.
Mastercard’s push is also competitive. Visa topped estimates this week and continues to benefit from travel and cross-border volumes, even as growth normalized from earlier peaks. Both networks are positioned around stablecoins and tokenized bank money, with Mastercard emphasizing compliance rails and identity – areas it argues will be decisive as regulators formalize standards.
Zero Hash would join Mastercard’s digital-asset stack, including Crypto Credential – a framework enabling exchanges and users to transact using aliases while still sharing Travel-Rule metadata to meet regulatory requirements. The program went live with peer-to-peer pilots last year and has since added partners across Europe, Latin America and the Middle East. For merchants and wallets, the pitch is fewer failed sends, simpler compliance and cleaner user flows as stablecoin payouts become more common.
For crypto desks, the Zero Hash talks matter because they intersect with stablecoin payments, where issuers and networks are racing to win enterprise volume. Zero Hash provides APIs for custody, transfers and on-ramps that power consumer apps and brokerages; securing that capability could let Mastercard stitch stablecoin settlement into more of its merchant and fintech flows rather than treating it as a bolt-on.
Mastercard’s push is also competitive. Visa topped estimates this week and continues to benefit from travel and cross-border volumes, even as growth normalized from earlier peaks. Both networks are positioned around stablecoins and tokenized bank money, with Mastercard emphasizing compliance rails and identity – areas it argues will be decisive as regulators formalize standards.
Author
Sebile Fane cut her teeth in blockchain by building tiny NFT experiments with friends in her living room, long before the buzzwords took hold. She’s driven by a curiosity for the human stories behind smart contracts — whether it’s a small-town artist minting her first token or a DAO voting on climate grants — and weaves technical insight with genuine empathy.
