Coinbase is reportedly close to securing an acquisition agreement with BVNK, a rising player in stablecoin payments infrastructure, in a deal estimated at roughly $2 billion. Sources familiar with the matter say the agreement is still undergoing due diligence and could close by the end of the year or in early 2026. However, terms remain fluid, and talks could still collapse.
Coinbase Ventures already holds a stake in the London-based startup, which has secured around $90 million from notable backers, including Citi Ventures, Visa, and Haun Ventures. Neither BVNK nor Coinbase provided direct comment on the negotiations, with the U.S. exchange reiterating its policy of not addressing rumors or speculation.
Still, Coinbase reaffirmed that it continually explores acquisition and partnership opportunities aligned with its mission to expand global economic freedom through crypto-powered financial innovation.
The prospective takeover highlights Coinbase’s accelerating push deeper into the stablecoin sector, a market surging after the U.S. approved landmark stablecoin legislation earlier this year. Financial giants like Visa and Mastercard have been testing blockchain-based payment rails to cut costs and improve settlement speeds, signaling a broader industry shift toward tokenized payments.
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However, the company has remained focused on diversifying their business away from trade volumes. In fact, about 20% of the company’s total revenue in the third quarter came from stablecoin economic activity, supplemented by the company’s revenue share arrangement for the USDC stablecoin and partnerships such as their one with Shopify. During their recent earnings call, the company’s management indicated their continued focus on payments and possible acquisition targets in the sector.
Source: Shareholder Letter
The technology of BNVK enables merchants to process payments in digital assets such as stablecoins, thus facilitating easier cross-border transactions. The infrastructure could strengthen the newly implemented Coinbase Business platform by Coinbase, which provides services for the generation of invoices, settlements, and management of funds.
The acquisition will strengthen the capability of Coinbase to provide a superior next-generation banking and payments infrastructure based on stablecoins.
If the acquisition goes through, it will be one of the biggest M&As yet in the crypto payments sector, solidifying the Coinbase plan to be the worldwide leader in the blockchain financial infrastructure sector as the traditional finance sector integrates with the crypto infrastructure sector.
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