- Coinbase and Mastercard are negotiating to acquire BVNK for up to $2.5 billion.
- The acquisition talks are happening as demand for stablecoins, digital assets tied to the U.S. dollar, rises.
- BVNK provides infrastructure that lets companies use stablecoins for payments and international transfers.
- The deal, if completed, would be the largest of its kind in the stablecoin sector, surpassing previous acquisitions like Stripe’s $1.1 billion purchase of Bridge.
- Industry analysts say stablecoins are increasingly seen as a core part of future payment networks.
Coinbase and Mastercard are in talks to buy the U.K.-based fintech company BVNK, which specializes in stablecoin infrastructure. The possible deal could value BVNK between $1.5 billion and $2.5 billion. The talks are ongoing, and neither company has finalized an agreement.
According to a report from Fortune, Coinbase is seen as the frontrunner. A Coinbase spokesperson responded to Decrypt by saying, “We don’t comment on rumors or speculation.” Mastercard and BVNK have not provided public comments.
If the sale goes ahead at the proposed values, it would be the largest stablecoin-related acquisition to date. This would be bigger than Stripe’s $1.1 billion purchase of Bridge, which was the largest such deal when it was completed earlier this year.
Founded four years ago, BVNK helps businesses use stablecoins in payments, cross-border transfers, and treasury operations. The company raised $50 million in December last year, valuing it at $750 million, and received investment from VISA in May.
Industry experts say the move shows that payment and crypto companies now see stablecoins as essential to future digital money systems. “Major firms view stablecoins as critical payment infrastructure,” said Ryan Yoon, senior analyst at Tiger Research. For Coinbase, buying BVNK could mean controlling more of the stablecoin process, while Mastercard could use the deal to protect its role in payment networks.
Chris Miglino, co-founder of DNA Fund, told Decrypt that stablecoins “are becoming and will further become commonplace. [In] the same way that DATs have infiltrated Wall Street, stables will replace money transfer.”
Recent developments, like Circle’s public debut and U.S. President Donald Trump signing the GENIUS Act to create a federal framework for stablecoin issuers, have further legitimized stablecoins in the U.S. financial system.
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