New Delhi, March 18 -- Mastercard said on Tuesday it would buy stablecoin payments infrastructure firm BVNK for up to $1.8 billion, as the card giant deepens its push into blockchain-based transfers.

Increasing regulatory clarity and broader usage of stablecoins have created opportunities for card networks to expand beyond traditional cards into faster, lower-cost digital payment systems. Mastercard and rival Visa are competing to establish an early lead in the fast-evolving segment.

Mastercard said the deal would enable its users to carry out cross-border remittances, business payments and payouts with stablecoin, which offers advantages in speed, cost and availability.

"BVNK has spent the last seven years building not just the techno...