Coinbase and Mastercard in advanced talks to acquire London-based stablecoin infrastructure firm BVNK

On October 10, Fortune magazine reported that cryptocurrency exchange Coinbase and global payments giant Mastercard are in advanced negotiations to acquire BVNK, a London-based stablecoin infrastructure company, for an estimated $1.5 billion to $2.5 billion.

Coinbase currently holds a relatively strong position in the bidding, but negotiations are ongoing and have yet to be finalized. If the deal goes through, it would be the largest merger and acquisition in the stablecoin sector to date and could reshape the industry landscape.

Founded in 2021, BVNK is a technology platform focused on providing stablecoin-related services to corporate clients, including stablecoin trading, cross-border payment solutions, and digital fund management. In December 2024, BVNK completed a $50 million funding round, valuing the company at approximately $750 million.

The company received strong investment from renowned investors, including Haun Ventures, Coinbase Ventures, and Tiger Global.

Recently, the venture capital arms of Visa and Citigroup have also participated. This potential acquisition reflects the growing interest in stablecoins and their underlying infrastructure from both traditional financial giants and crypto-native companies.

As digital assets gradually integrate into the mainstream financial system, the strategic value of stablecoins, as a crucial bridge between traditional currencies and the crypto world, has become increasingly prominent.

The technology and service systems built by BVNK are becoming a hotbed of competition from various investors. It is worth noting that consolidation has been ongoing in the stablecoin and payment infrastructure sectors this year. For example, fintech company Stripe recently acquired Bridge for $1.1 billion, further strengthening its presence in the digital payments sector.

If Coinbase successfully acquires BVNK, it will not only significantly enhance its competitiveness in the stablecoin ecosystem but also potentially usher in a new round of resource integration and strategic restructuring within the industry. To date, BVNK, Mastercard, and Coinbase have not publicly commented on the acquisition rumors. The market will continue to monitor the progress of this transaction and its potential impact on the global stablecoin and payment industries.