Quick Breakdown
- Coinbase and Mastercard are in talks to buy BVNK for up to $2.5B.
- The deal could reshape stablecoin payments and cross-border settlements.
- Coinbase eyes enterprise payments; Mastercard targets blockchain innovation.
A major acquisition battle is brewing in the stablecoin infrastructure space as Coinbase and Mastercard engage in advanced talks to acquire BVNK, a London-based fintech that facilitates cross-border payments using stablecoins. According to sources cited by Fortune, the deal could be valued between $1.5 billion and $2.5 billion, potentially making it the largest acquisition in the stablecoin industry’s history.
🚨 Breaking: @coinbase and @Mastercard are reportedly in advanced negotiations to acquire stablecoin startup @BVNKFinance for around $2 billion, just a day after BVNK announced a new funding round with Citi.
If confirmed, this would be the largest stablecoin acquisition… pic.twitter.com/2lBn2L54hx
— Kate D (@ehtsoahc) October 10, 2025
Coinbase eyes expansion into crypto-powered enterprise payments
Sources close to the negotiations suggest Coinbase currently holds a lead in discussions, though both companies remain active bidders. The move would represent a strategic expansion for Coinbase, allowing the U.S.-based crypto exchange to extend beyond trading and custody into stablecoin-driven enterprise payments and treasury services.
By integrating BVNK’s infrastructure, Coinbase could strengthen its position as a comprehensive crypto financial services provider, bridging institutional finance and blockchain payments. This would also align with CEO Brian Armstrong’s broader goal of transforming Coinbase into a platform supporting global business transactions through digital assets.
Mastercard seeks stablecoin advantage amid market pressure
For Mastercard, the BVNK acquisition could signal to investors that it is doubling down on stablecoin innovation amid rising competition from fintech and blockchain-native firms. The payments giant’s stock took a hit earlier this year following the U.S. Senate’s passage of the Genius Act, which tightened scrutiny on traditional payment systems.
Securing BVNK’s technology would allow Mastercard to integrate real-time, borderless settlement solutions using stablecoins—an area increasingly seen as the future of digital payments. The company has already explored blockchain interoperability through several pilot programs, but this acquisition would mark a significant leap in its commitment to onchain finance.
If successful, the deal would not only redefine corporate payment rails but also establish a new benchmark for mergers in the rapidly expanding stablecoin ecosystem.
Meanwhile, Coinbase continues to enhance its decentralized trading capabilities, integrating optimized token swap systems across hundreds of liquidity sources — further blurring the lines between centralized and decentralized finance.
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