Coinbase and Mastercard are reportedly in advanced talks to acquire London-based stablecoin company BVNK in what could become the largest stablecoin acquisition to date, according to Fortune.
Key points to remember:
- Coinbase and Mastercard are in advanced talks to acquire British stablecoin company BVNK.
- BVNK, founded in 2021, provides stablecoin infrastructure for cross-border payments and transactions.
- The negotiations take place against a backdrop of a boom in stablecoins, whose market exceeds $300 billion.
The deal, estimated to be worth between $1.5 billion and $2.5 billion, remains in negotiations with no confirmed winner, although sources say Coinbase currently has the upper hand.
If completed, the acquisition would mark a major milestone for the crypto and traditional finance sectors, highlighting the growing convergence between blockchain-based payments and established financial infrastructure.
BVNK becomes a key infrastructure provider for stable global payments
Founded in 2021, BVNK has quickly become one of the most important players in stablecoin infrastructure.
The company helps businesses integrate stablecoins into payments, cross-border transactions and global treasury operations.
Its customers include financial institutions looking to transfer money instantly without relying on traditional channels.
BVNK previously raised $50 million in a December funding round led by Haun Ventures, with participation from Coinbase Ventures, Tiger Global and the venture capital arms of Visa and Citi. The company was then valued at around $750 million.
If the deal goes through, it would surpass Stripe’s acquisition of Bridge, a stable startup purchased earlier this year, for $1.1 billion. Both measures highlight the strategic value of stablecoin infrastructure for fintech and payments leaders.
The interest from Coinbase and Mastercard comes as stablecoins experience explosive growth.
The market has expanded to more than $304 billion, according to DeFiLlama, boosted by the passage of the US GENIUS Act, signed by President Donald Trump in July.
The legislation provides a federal framework for stablecoin issuance and transparency, fueling new institutional demand.
Stablecoins, digital tokens tied to fiat currencies like the US dollar, have become central to global payments innovation.
Proponents argue that they are faster, cheaper and more efficient than existing systems, with settlement times in seconds rather than days.
Banks Turn to Stablecoins as Competition Intensifies
In August, Citigroup CEO Jane Fraser confirmed that the bank was “considering issuing a Citi stablecoin” while developing tokenized deposit services for corporate clients seeking 24/7 settlement capabilities.
Earlier in June, JPMorgan also launched JPMD deposit tokens for institutional blockchain payments, while CEO Jamie Dimon questioned its use case.
The bank was the lead underwriter of Circle’s IPO, which has soared more than 500% from its $31 offering price.
It also appears that some institutions are showing approval for controlling stablecoins, as seen in the Bank of England’s recent proposal for strict ownership.
The bank caps between £10,000 and £20,000 for individuals and £10 million for businesses, sparking widespread backlash.
As reported, Crypto.com is integrating Morpho, the second largest DeFi lending protocol, into its platform to launch stablecoin lending markets directly on the Cronos blockchain.
The partnership will allow users to deposit wrapped versions of Bitcoin and Ethereum (CDCBTC and CDCETH) and borrow stablecoins against them without leaving the Crypto.com ecosystem.
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