Venture capitalist Alex Lazarow writes that in the past two years, Stripe, Mastercard, and Circle have each acquired stablecoin infrastructure companies: Bridge in the U.S., BVNK in the U.K., and Tazapay, a cross-border payment platform in Singapore. The total value of these three transactions exceeds $3 billion. These companies were established between 2020 and 2022 and have raised approximately $200 million in total funding, indicating that stablecoin payment infrastructure is becoming a competitive area for traditional payment giants and crypto companies. Stripe announced in 2024 that it would acquire Bridge for just over $1 billion; Mastercard's acquisition of BVNK has a total transaction value of up to $1.8 billion, including $1.5 billion in base consideration and $300 million in contingent consideration; Circle has agreed to acquire Tazapay for $400 million in stock, with the deal expected to close in 2027. The growth in stablecoin adoption, the gradual clarification of regulatory frameworks, and the rising demand for real-time cross-border payments are the main drivers of these mergers and acquisitions. Data shows that by 2025, the adjusted transaction volume of stablecoins is expected to grow by 91% year-on-year, reaching $10.9 trillion, approaching Visa's $14.2 trillion; the scale of real-world payments is also expected to more than double, reaching approximately $390 billion. These transactions reflect that acquirers value not only stablecoin technology but also proven business scale, payment networks, and compliance qualifications. As stablecoin payment infrastructure matures, applications such as dollar accounts, stablecoin payment cards, and cross-border remittances are also emerging, suggesting that more local infrastructure companies like Bridge and BVNK may be acquired in various regions worldwide in the future.