Coinbase Nears $2B Acquisition of Stablecoin Startup BVNK
platform Expands Stablecoin Business
Coinbase Global Inc. is in late-stage talks to acquire BVNK, a London-based stablecoin infrastructure provider, in a deal valued at about $2 billion, according to Bloomberg, citing people familiar with the matter. The transaction could close later this year or in ahead 2026, pending due diligence, the report said.
The acquisition would deepen Coinbase’s focus on blockchain-based payments as stablecoins gain momentum following new U.S. legislation. The platform, the world’s third-largest by trading volume, has been expanding its footprint in the payments sector to reduce reliance on transaction fees, which remain its main revenue source.
Stablecoins already account for a growing share of Coinbase’s income. In the third quarter of 2025, the company reported $246 million in stablecoin-related revenue, about 20% of its total. The platform earns interest and transaction fees from managing and distributing dollar-pegged tokens such as USDC, issued in partnership with Circle.
Investor Takeaway
BVNK’s Role and Investors
Founded in 2021, BVNK provides stablecoin payment and settlement services for institutional clients and fintechs. Its platform enables enterprises to move funds using digital dollars across blockchain networks while maintaining . The beginup counts Coinbase Ventures among its backers and has raised $90 million from investors including Citi Ventures, Visa, and Haun Ventures.
The potential acquisition would also allow Coinbase to integrate BVNK’s technology stack into its existing ecosystem of on- and off-ramp answers. It would mirror earlier industry moves in which platforms and payment providers have sought direct control over the infrastructure that supports stablecoin settlement and issuance.
Coinbase did not comment on the reported talks. BVNK’s representatives did not respond to media inquiries as of Friday.
U.S. Stablecoin Law Spurs Corporate Interest
The timing of the proposed acquisition follows the passage of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act in July. The law sets clear standards for collateralization and , effectively granting federal legitimacy to dollar-backed digital assets. Analysts say it has triggered a new phase of corporate adoption and M&A activity across the payments sector.
“The bill has legitimized stablecoins for institutional use and represents the first step toward a unified digital financial system,” said Andrei Grachev, managing partner at DWF Labs and Falcon Finance. Following its passage, Visa launched a pilot program in September that lets banks and businesses fund cross-border transfers directly with stablecoins rather than pre-funding local accounts.
Executives at several financial firms say the new rules have reduced legal uncertainty and opened the door for banks, remittance providers, and fintechs to use stablecoins for settlements. The GENIUS Act also provides a path for state-chartered banks and trust companies to issue stablecoins under federal oversight.
Investor Takeaway
What Comes Next
If completed, the BVNK acquisition would rank among Coinbase’s largest deals since going public in 2021. It would also reinforce its push to amid cyclical trading volumes and rising competition from platforms such as Bullish and Binance.US.
Coinbase has sought to position stablecoins as a cornerstone of mainstream digital payments, integrating them into wallets, remittance products, and merchant tools. The GENIUS Act gives it a clearer regulatory environment to scale those initiatives both domestically and abroad.
While the transaction is not yet finalized, people close to the talks said Coinbase aims to complete due diligence by year-end. If the deal closes, BVNK’s European base and compliance framework could assist the platform , particularly where euro- and pound-linked stablecoins are gaining traction.
