- Capital One agreed to buy San Francisco-based Brex in a $5.15 billion stock-and-cash deal.
- The deal aims to expand Capital One into business payments and expense management and is expected to close in mid-2026, subject to regulatory approval.
- Brex announced plans to launch native stablecoin payments starting with USDC, with automatic conversion to U.S. dollars.
- Brex was founded in 2017 and has added expense management and AI tools for corporate spending.
- Brex founder Pedro Franceschi said he will remain CEO after the transaction and described the deal as growth focused.
Capital One said on Thursday it has agreed to acquire San Francisco-based Brex in a $5.15 billion stock-and-cash transaction to strengthen its business payments and expense-management offerings, with the deal expected to close in mid-2026 pending regulatory approval. The announcement was made in a company release that outlined the strategic rationale for the acquisition and the transaction structure. (See the full release here.)
Capital One CEO Richard Fairbank framed the purchase as accelerating the bank’s entry into automated business payments. “Acquiring Brex accelerates this journey, especially in the business payments marketplace,” he said in the statement. The release did not specify how Brex’s technology would be folded into the bank’s existing commercial products.
In September 2025, Brex announced plans to launch native stablecoin payments beginning with USDC, allowing customers to pay balances, send payments, and accept funds with automatic conversion into U.S. dollars. The company said the feature would let businesses manage traditional and stablecoin-backed spending through one platform; details were provided in the company announcement available here.
Launched in 2017, Brex first offered corporate cards for startups and later added expense management, banking features, and AI-driven tools that categorize expenses, enforce rules in real time, and assist with receipt matching. Founder Pedro Franceschi described the deal as a growth-driven combination and said he will continue to lead the company; he wrote about the company’s origins and goals on X, which is available here.
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