Coinbase has reportedly engaged in advanced discussions to acquire London-based stablecoin infrastructure firm BVNK in a transaction valued at around USD 2 billion. The proposed deal, still subject to due diligence, could be finalised by late 2025 or early next year, according to individuals familiar with the talks cited by MSN and Bloomberg. While no agreement has been signed, Coinbase Ventures, the exchange’s investment arm, is already an investor in BVNK.
Representatives from Coinbase declined to comment directly on the matter, stating that the company does not address market speculation but continues to explore a range of strategic opportunities, including acquisitions and partnerships, to further its business objectives. BVNK officials did not immediately respond to requests for comment.
Regulatory backdrop and market diversification
The possible acquisition comes in the context of growing activity in the stablecoin sector following new US legislation introduced earlier this year that formally regulates the issuance and management of these digital assets. The new framework has prompted established financial firms, including Visa, Mastercard, and several banks, to explore blockchain-based payment systems aimed at improving transaction efficiency and reducing costs.
Coinbase’s interest in BVNK aligns with its ongoing strategy to reduce dependence on trading fees, which have historically accounted for the bulk of its revenue. According to its most recent quarterly report, roughly one-fifth of Coinbase’s income came from stablecoins in the third quarter.
BVNK, founded in 2021, provides infrastructure that enables merchants to accept digital payments, including stablecoins. The firm has raised about USD 90 million from investors, including Citi Ventures, Haun Ventures, and Visa. If the acquisition proceeds, BVNK’s technology could complement Coinbase’s recently launched platform for businesses, potentially enhancing its efforts to integrate stablecoins into everyday financial operations and digital payments.
