Crypto exchange Coinbase and payments giant Mastercard are reportedly in advanced negotiations to acquire BVNK, a London-based FinTech company specializing in stablecoin payment infrastructure, according to Fortune. The outlet cited six individuals familiar with the discussions, noting that the talks remain ongoing and a final agreement has not yet been reached.
Per Fortune, the potential acquisition could value BVNK between $1.5 billion and $2.5 billion. Three of the sources indicated that Coinbase appears to be leading the bidding process ahead of Mastercard. If completed, the transaction would represent the largest-ever deal involving stablecoin infrastructure, a sector that is increasingly attracting interest from both traditional financial institutions and major players in the digital asset space.
According to Fortune, BVNK provides enterprise-level infrastructure that enables businesses to facilitate payments using stablecoins, a form of cryptocurrency pegged to underlying assets such as the U.S. dollar. The company recently announced an investment from Citi (NYSE:C), though it did not disclose the amount or its updated valuation. Co-founder Chris Harmse told CNBC that BVNK’s valuation now exceeds the $750 million figure reported during its previous funding round.
If either Coinbase or Mastercard were to finalize the acquisition, it would mark a pivotal moment for the integration of stablecoin technology into mainstream finance. The move would also signal growing recognition among established payment networks of the long-term importance of digital currencies. As Fortune reported, a sale to Mastercard would reflect the company’s increasing commitment to adapting its operations in response to the rise of stablecoins, a shift underscored by prior market reactions when companies like Amazon and Walmart explored similar technologies.
