Coinbase, the prominent cryptocurrency exchange, and Mastercard, the global payments leader, have engaged in advanced discussions to acquire BVNK, a London-based fintech firm specializing in stablecoin payment infrastructure, according to multiple sources familiar with the negotiations who spoke with Fortune.
These acquisition talks are still ongoing and have not yet been finalized; however, insiders indicate that the potential purchase price ranges from $1.5 billion to $2.5 billion. Among the interested parties, Coinbase currently appears to hold the lead, though the outcome remains uncertain.
BVNK operates at the cutting edge of digital payment solutions, offering technology that enables businesses to send and receive funds through stablecoins—cryptocurrency tokens pegged to traditional fiat currencies such as the U.S. dollar. The company’s platform facilitates near-instant settlement times and reduced transaction fees, presenting an alternative to traditional payment systems like SWIFT and card networks.
If completed, this deal would represent the largest acquisition in the stablecoin sector to date. It underscores the intensifying competition between established financial institutions and cryptocurrency firms aiming to shape the future landscape of digital payments.
The heightened interest in stablecoin infrastructure is illustrated by last year’s notable acquisition of Bridge, a stablecoin startup, by payments processor Stripe for approximately $1.1 billion. BVNK operates in a similar domain, reinforcing the growing demand for blockchain-based payment networks that promise faster, cheaper cross-border transactions.
Neither Coinbase nor Mastercard has publicly commented on the ongoing negotiations.
The potential acquisition of BVNK highlights an evolving trend where traditional banking and crypto sectors increasingly converge around digital asset payments. Such a development could significantly influence how stablecoins integrate into both crypto ecosystems and legacy financial frameworks.
For additional context, Citi recently joined Visa in backing BVNK, further validating the company’s position at the forefront of stablecoin payment innovation.
