Coinbase is reportedly in talks to acquire stablecoin infrastructure company BVNK for nearly $2 billion. The deal is said to be in its final stages and could be completed by the end of this year or early next year. If successful, this would be one of Coinbase’s largest acquisitions to date and a major step toward expanding its role in the stablecoin market.
Coinbase plans big move for stablecoins
According to Bloomberg, Coinbase has already begun the final due diligence process ahead of signing the deal with London-based fintech startup BVNK. The company helps businesses process both crypto and traditional currency payments. Coinbase Ventures, the exchange’s investment arm, is already one of BVNK’s early backers, along with Citi Ventures, Visa, and Haun Ventures.
Coinbase won exclusive rights to negotiate the acquisition after a rigorous bidding process, according to people familiar with the matter. The company hopes the deal will strengthen its position in the global payments market, especially after new US laws regulating stablecoins were passed this year.
Stablecoins driving Coinbase’s growth
Stablecoins have become an important part of Coinbase’s business. They currently account for almost 20% of the company’s total revenue, thanks largely to its partnership with USDC issuer Circle. Coinbase earns a portion of the interest from USDC reserves and also helped integrate USDC payments into Shopify, making it easier for businesses to accept cryptocurrencies.
Acquiring BVNK will give Coinbase access to more tools and infrastructure to grow its stablecoin business. The exchange will also enable more businesses to easily process both fiat and cryptocurrency payments, driving adoption around the world.
- Also read:
- Coinbase’s Q3 results: Brian Armstrong’s comments spark dividend predictions in the market
- ,
Facilitate global payments
Founded in 2021, BVNK has quickly become a major player in the stablecoin space. We have raised approximately $90 million and built a powerful payments network that connects cryptocurrencies and traditional finance. Through this transaction, Coinbase will acquire BVNK’s technology and network, allowing it to expand into stablecoin-based corporate payments.
This comes after Coinbase recently partnered with Citigroup to test stablecoin payments for business customers, with the aim of modernizing the way money moves between banks and crypto wallets.
Coinbase CEO Brian Armstrong recently said he expects the U.S. Cryptocurrency Market Structure Act to be passed by the end of the year, calling it a major step toward regulatory clarity. If the BVNK deal goes through, Coinbase could become a major force in digital payments, combining stablecoins, regulatory oversight, and access to global merchants into a powerful ecosystem.
Never miss a beat in the crypto world!
Get the latest news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
Trust CoinPedia:
CoinPedia has been providing accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by an expert panel of analysts and journalists following strict editorial guidelines based on EEAT (Experience, Expertise, Authority, and Trustworthiness). All articles are fact-checked against trusted sources to ensure accuracy, transparency, and authenticity. Our review policy ensures unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely and up-to-date information on everything cryptocurrencies and blockchain, from startups to industry giants.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making any investment decisions. Neither the author nor the publication is responsible for your financial choices.
Sponsors and advertising:
Sponsored content and affiliate links may appear on our site. Ads are clearly marked and our editorial content is completely independent of our advertising partners.