Global payments giant Mastercard is reportedly in advanced talks to acquire crypto infrastructure startup Zero Hash for approximately $1.5 billion to $2 billion. This strategic move underscores Mastercard’s ambition to embed digital-asset settlement capabilities including stable-coins and tokenised funds into its core payment network. Industry observers suggest this acquisition could usher in a new era where banking and payments operate around the clock, not just during traditional business hours.
Why this matters for continuous banking and payments
Currently, many payments and settlement processes are constrained by batch windows, weekday cut-offs and correspondent-bank delays. By acquiring Zero Hash one of the firms enabling regulated crypto custody, settlement and conversion rails Mastercard aims to collapse those friction points and deliver near-instant settlement using tokenised money. According to analysis, stable-coin-based settlement could enable banks and merchants to transact 24/7/365, removing the concept of “banking hours” for many flows.
How continuous settlement could reshape key functions
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Treasury and liquidity management: Firms will no longer have to wait for overnight or weekend processing; they could sweep balances, convert or net obligations in real time via tokenised rails.
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Cross-border payments: Stable-coins enable settlement outside traditional correspondent chains, reducing time zones and holiday delays.
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Merchant payouts and e-commerce: Vendors can receive value immediately rather than through legacy reconciliation cycles.
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Banking-client services: With tokenised money integrated into card networks or account-to-account systems, consumers and institutions could transact or be paid at any hour.
Challenges ahead before the “always-on banking era” becomes the norm
Although the mechanics are promising, several hurdles remain:
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Compliance and regulatory frameworks need to adapt for 24/7 operation AML/KYC screening, sanctions monitoring and dispute management still follow business-day assumptions.
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Operational and infrastructure risks such as smart-contract vulnerabilities, custody key-management and liquidity pools must be hardened for enterprise scale.
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Interfacing fiat and tokenised money remains complex. While stable-coins may settle in seconds, conversions to traditional currencies involve banking systems that still rely on cut-offs and batching.
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Adoption of tokenised rails by banks, merchants and corporates will take time; Mastercard’s investment signals intention but full roll-out will be gradual.
Strategic implications for Mastercard and broader industry
For Mastercard, acquiring Zero Hash means owning more of the plumbing behind tokenised money custody, conversions, payouts and gaining a competitive edge over rivals such as Visa and Stripe. The move aligns with Mastercard's earlier partnerships in digital assets, such as its work with stable-coin-linked cards.
In the broader ecosystem, this shift signals the decline of waiting for Monday morning processing or weekend lulls. Firms may soon expect value movement, settlement and reconciliation to happen at any time. That could raise expectations for banks, fintechs and payments platforms.
What to watch next
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Whether Mastercard finalises the acquisition and how it integrates tokenised-rail infrastructure into its global network.
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How swiftly banks and merchants adopt rail services that deliver 24/7 settlement.
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Regulatory responses in major jurisdictions around tokenised-money operations and stable-coin legislation.
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How this shift influences merchant and consumer expectations of liquidity and payment timing.
Frequently Asked Questions (FAQs)
Q1: What exactly is Mastercard acquiring?
A1: Mastercard is reportedly in late-stage talks to acquire Zero Hash, a regulated infrastructure provider specialising in crypto custody, tokenised fund flows and stable-coin settlement.
Q2: How does this $2 billion move enable “banking hours” to end?
A2: By enabling tokenised money and stable-coin settlement on-chain, Mastercard hopes to allow funds to move, settle and reconcile outside traditional business-day cycles removing the delays tied to batch windows, weekend holidays and banking cut-offs.
Q3: Does this mean banks and consumers will immediately access 24/7 payments?
A3: Not immediately. While infrastructure is advancing, key dependencies remain (fiat conversion, compliance workflows, institutional adoption). The transition will be phased rather than overnight.
Q4: Who stands to benefit most from this evolution?
A4: Merchants with global operations, financial institutions handling cross-border flows or treasury operations, and consumers in markets with limited banking hours or high remittance volumes stand to benefit significantly.
Q5: What are the major risks or obstacles?
A5: Risks include regulatory uncertainty around stable-coins, operational risks in tokenised rails, legacy banking systems remaining bottlenecks and firms needing to adapt to continuous operations.
Q6: How might this reshape traditional banks?
A6: Banks may shift from batch processing toward real-time settlement offerings, rethink liquidity and funding models, and face competitive pressure from payments platforms that operate 24/7.
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