Coinbase and Mastercard have reportedly engaged in advanced talks to acquire BVNK, a stablecoin infrastructure firm backed by Visa and Citi.
Founded only a few years ago, BVNK develops systems that connect fiat and blockchain payment networks, allowing businesses to move funds seamlessly across traditional and digital finance. The company has drawn increasing attention as demand for stablecoin settlement tools grows among established banks and payment firms.
Strategic interest from global financial institutions
BVNK’s early funding rounds were led by traditional venture capital investors, but interest from larger players intensified as the company expanded. By 2024, its transaction volumes were reportedly running at about USD 10 billion annually. Investments from Visa and Citi have since signalled a wider push by major financial institutions to gain exposure to stablecoin infrastructure as part of their adaptation to digital money trends.
According to reports from Fortune cited by Yahoo Finance, Coinbase and Mastercard are now in advanced talks to acquire the company. Estimates place BVNK’s valuation between USD 1.5 billion and USD 2.5 billion, although neither firm has confirmed the discussions publicly.
A deal would offer different strategic benefits. For Coinbase, owning BVNK could strengthen its position in stablecoin distribution and potentially steer users towards USDC, a stablecoin linked to its partner Circle. Mastercard, meanwhile, is looking to integrate blockchain-based settlement into its existing network, and BVNK’s dual on- and off-chain capabilities could accelerate that effort.
Representatives from Mastercard have previously commented that most digital payment flows are expected to begin and end in fiat currency, even as stablecoins gain a larger role in settlement. Company officials have also emphasised that stablecoins complement rather than replace existing financial infrastructure.
