- Negotiations for the acquisition of BVNK are in the early stages, and no final decision has been made.
- If the deal is successful, it will be the largest acquisition in the stablecoin sector.
- Coinbase and Mastercard aim to strengthen their positions in next-generation payment infrastructure.
The American cryptocurrency exchange Coinbase and the global leader in payment systems Mastercard are in preliminary talks regarding a potential acquisition of the British stablecoin startup BVNK. The value of the potential deal is estimated to be between $1.5 billion and $2.5 billion, which could set a record for the stablecoin industry.
This is reported by Business • Media
Currently, the negotiations are primarily being driven by Coinbase; however, neither party has made a final decision regarding the acquisition. Experts note that the interest in BVNK indicates a growing competition between traditional payment companies and cryptocurrency platforms. They emphasize that stablecoins have evolved from a niche instrument to an integral part of the global financial infrastructure.
The Impact of the Potential Acquisition on the Payment Market
The possible deal with BVNK could be a response to Stripe’s acquisition of the crypto startup Bridge in 2024 for $1.1 billion. If negotiations are successfully concluded, the acquisition of BVNK will significantly strengthen one of the companies’ positions in the digital payments sector. For Coinbase, this will open the door to expanding operations beyond the exchange business, while for Mastercard, it will be a step towards deeper integration of blockchain technologies into traditional payment processing.
BVNK’s Operations and Investors
The startup BVNK was founded in 2021 by Chris Harms, Jesse Hemson-Strather, and Donald Jackson. The company specializes in solving business challenges in cross-border payments, corporate settlements, and treasury operations using stablecoins. In December 2024, BVNK raised $50 million in funding at an estimated valuation of around $750 million. Among the investors are Haun Ventures, Tiger Global, as well as the venture arms of Visa, Citi, and Coinbase Ventures.
According to insiders, Mastercard’s interest in BVNK reflects the company’s desire to adapt its business to future changes, where stablecoins may coexist with fiat currencies in payment flows.
“Most flows will start and end in fiat, but stablecoins will find their place,” said Mastercard’s Chief Commercial Payments Officer Raj Seshadri earlier.
It was previously reported that the Bank of England plans to ease restrictions on the use of stablecoins in the country.