Stablecoin Infrastructure's Rise Drives $2.5B Acquisition Race

Coinbase and Mastercard are engaged in advanced discussions to acquire BVNK, a London-based fintech firm specializing in stablecoin payment infrastructure, with a potential transaction valued between $1.5 billion and $2.5 billion, according to multiple sources Exclusive: Coinbase and Mastercard Have Both Held Advanced Acquisition Talks to Buy BVNK^[1]. The deal, if finalized, would mark the largest stablecoin acquisition to date, surpassing Stripe's $1.1 billion purchase of Bridge in 2024 Coinbase and Mastercard Held Talks to Buy Stablecoin Fintech BVNK for Up to $2.5B^[2]. While neither company has publicly commented, sources indicate that Coinbase currently holds an advantage in the negotiations Coinbase & Mastercard Eye $2B Acquisition of Stablecoin Firm BVNK^[3].

BVNK, founded in 2021, provides tools for businesses to integrate stablecoins into cross-border payments, treasury management, and transaction systems, leveraging its extensive banking relationships and financial licenses Coinbase and Mastercard Compete to Acquire Stablecoin Firm BVNK for Up to $2.5 Billion^[4]. The firm raised $50 million in December 2024 at a $750 million valuation, with investors including Visa, Citi Ventures, and Coinbase Ventures Breaking: Coinbase and Mastercard in Advanced Talks to Acquire Stablecoin Firm BVNK^[5]. Its technology enables near-instant settlements and lower fees compared to traditional systems like SWIFT, positioning it as a key player in the rapidly expanding stablecoin market Coinbase & Mastercard Eye $2B Acquisition of Stablecoin Firm BVNK^[3].

The acquisition race reflects broader industry trends, including regulatory clarity and institutional adoption. The U.S. GENIUS Act, signed into law in July 2025, has accelerated stablecoin adoption by establishing a federal regulatory framework, while Circle's $1.05 billion IPO in June 2025 further legitimized the sector Breaking: Coinbase and Mastercard in Advanced Talks to Acquire Stablecoin Firm BVNK^[5]. For Coinbase, acquiring BVNK would strengthen its position in the stablecoin ecosystem, expanding beyond retail trading to enterprise infrastructure and solidifying ties to USDC, which it currently distributes via its partnership with Circle Coinbase and Mastercard Compete to Acquire Stablecoin Firm BVNK for Up to $2.5 Billion^[4]. Mastercard's interest, meanwhile, underscores concerns about stablecoins bypassing traditional payment networks, with the potential to integrate regulated stablecoin systems into its existing operations Coinbase & Mastercard Eye $2B Acquisition of Stablecoin Firm BVNK^[3].

The deal's outcome remains uncertain, as regulatory approvals and integration complexities could delay finalization. However, the competition highlights the growing strategic importance of stablecoin infrastructure in reshaping global payment systems Exclusive: Coinbase and Mastercard Have Both Held Advanced Acquisition Talks to Buy BVNK^[1].