Coinbase, one of the leading American cryptocurrency exchanges, and international payment company Mastercard are in preliminary talks regarding a potential acquisition of the British stablecoin startup BVNK. The estimated value of the deal ranges from $1.5 to $2.5 billion, which could make it the largest acquisition in the stablecoin sector.
This is reported by Finway
Competition in the Digital Payments Sector Intensifies
According to insiders, Coinbase is currently taking the initiative, but no final decisions have been made yet. The negotiations are in the early stages, and it is possible that they may not result in a signed agreement. Experts note that the potential acquisition of BVNK indicates a strengthening competition between traditional payment systems and cryptocurrency companies. They believe that stablecoins are no longer a niche tool but have become an integral part of the global financial infrastructure.
The deal could be a response to Stripe’s acquisition of the crypto startup Bridge in 2024 for $1.1 billion. This demonstrates the overall trend towards integrating blockchain technologies into traditional payment services.
BVNK: Development and Market Significance
BVNK was founded in 2021 by Chris Harms, Jesse Hemson-Strather, and Donald Jackson. The startup specializes in providing companies with tools to use stablecoins in cross-border payments, corporate settlements, and treasury operations. In December 2024, BVNK raised $50 million, and its valuation reached approximately $750 million. Among the investors were well-known funds such as Haun Ventures, Tiger Global, as well as venture arms of Visa, Citi, and Coinbase Ventures.
If the deal goes through, the buyer will significantly strengthen its position in the digital payments sector. For Coinbase, this would mean expanding beyond its exchange business, while for Mastercard, it would involve integrating blockchain technologies into existing financial services. Experts explain Mastercard’s interest in BVNK as a desire to adapt the company to a future where stablecoins coexist with traditional currencies.
“Most flows will start and end in fiat, but stablecoins will find their place,” said Mastercard’s Commercial Payments Director Raj Seshadri earlier.
It was previously reported that the Bank of England plans to ease restrictions on the stablecoin market, which could also impact the further development of this segment of financial technology.