Coinbase and Mastercard are reportedly in advanced talks to acquire London-based stablecoin startup BVNK, with the sale price estimated between $1.5 billion and $2.5 billion, according to Fortune.
The deal, if finalized, would represent one of the largest acquisitions in stablecoin history, underscoring the accelerating race among major fintech and crypto players to dominate blockchain-based payments infrastructure.
Sources familiar with the discussions told Fortune that Coinbase currently leads negotiations, though the outcome remains undecided. BVNK provides institutional-grade infrastructure for stablecoin issuance, custody, and conversion, capabilities that align closely with both companies’ expanding digital asset strategies.
If completed, the acquisition would surpass Stripe’s $1.1 billion purchase of Bridge, a stablecoin payments platform acquired in October 2024. Coinbase declined to comment on the reports, while BVNK and Mastercard have yet to issue statements.
Over the past few months, both companies have made strategic pushes into the stablecoin and blockchain payments market. Mastercard launched pilot programs integrating USDC stablecoin settlements with partners like Fiserv and Circle, aiming to modernize cross-border payment rails.
Meanwhile, Coinbase has doubled down on digital asset infrastructure, expanding stablecoin-based payment features and exploring acquisitions to strengthen its institutional services.
The potential BVNK acquisition highlights how traditional payment giants and crypto exchanges are converging, each racing to control the next generation of blockchain settlement networks.
With global stablecoin transactions now surpassing $7 trillion annually, the outcome of this bidding war could define the next phase of digital finance leadership.