Coinbase Global Inc. is reportedly in late-stage talks to acquire BVNK, a London-based payments startup that helps businesses transfer money globally using stablecoins — cryptocurrencies pegged to traditional currencies like the U.S. dollar.
According to Bloomberg, the potential deal is valued between $1.5 billion and $2.5 billion, which would make it the largest acquisition ever in the stablecoin sector, surpassing the previous $1.1 billion Bridge sale.
BVNK has attracted backing from major investors including Citi Ventures, Visa Ventures, Haun Ventures, Coinbase Ventures, and Tiger Global. The company recently raised $50 million in its Series B funding round.
If completed, the acquisition would give Coinbase a strong foothold in the fast-growing stablecoin economy, allowing it to expand beyond crypto trading and act more like a global fintech payments platform.
Coinbase’s timing appears strategic. The company just reported a strong quarterly performance, generating $1.9 billion in revenue, up 25% from the prior quarter. CEO Brian Armstrong also doubled down on Bitcoin, with Coinbase adding 2,772 BTC to its holdings, now totaling over 14,500 BTC — roughly $1.6 billion worth.
Industry sources suggest the BVNK transaction could close by early next year, signaling a major step in Coinbase’s evolution from exchange to next-generation financial infrastructure provider.
