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>>Negotiations are underway between Coinbase, Mastercard, and UK-based stablecoin company BVNK, potentially leading to an acquisition.

Negotiations are underway between Coinbase, Mastercard, and UK-based stablecoin company BVNK, potentially leading to an acquisition.

crypthub

about 10 hours ago

Potential Acquisition of BVNK

Coinbase and Mastercard are reportedly engaged in advanced negotiations to acquire London-based stablecoin firm BVNK. The deal is estimated to be worth between $1.5 billion and $2.5 billion, potentially marking the largest stablecoin acquisition to date. Sources suggest Coinbase currently leads the talks, though the acquisition remains subject to negotiation. This move reflects the growing convergence of blockchain-based payments and traditional financial infrastructure.

BVNK's Role in Stablecoin Infrastructure

BVNK, founded in 2021, provides vital infrastructure for businesses integrating stablecoins into payments and cross-border transactions. The firm previously secured $50 million in funding from notable investors including Coinbase Ventures and Haun Ventures. Its valuation reached roughly $750 million prior to these discussions, highlighting its strategic importance. The company facilitates instant money transfers for financial institutions.

Growth and Regulation of Stablecoins

The stablecoin market has experienced significant growth, surpassing $300 billion, spurred by the US GENIUS Act. This legislation provides a regulatory framework for stablecoin issuance and transparency. Banks like Citigroup and JPMorgan are exploring stablecoin issuance and tokenized deposits, demonstrating increasing institutional interest, alongside proposals for stricter ownership controls.