Key Highlights
- Coinbase is in final discussion to acquire London-based payments firm BVNK for approximately $2 billion, which could be the largest-ever deal in the stablecoin infrastructure sector
- This report is a direct response to the U.S. passing the landmark GENIUS Act in July 2025
- This new regulatory development has sparked a new race among financial giants like Mastercard, Visa, and major banks, including JPMorgan, to build or acquire stablecoin infrastructure
The leading U.S.-based cryptocurrency exchange, Coinbase, is finalizing a monumental deal to acquire the London-based payments platform BVNK for approximately $2 billion.
Coinbase is in late-stage talks to acquire stablecoin infrastructure startup BVNK in a roughly $2 billion deal, pending due diligence, according to people familiar with the matter. https://t.co/2kbaQbsJ5Q
— Bloomberg (@business) October 31, 2025
According to sources who spoke with Bloomberg, the negotiations are in their final stages, with an announcement expected by the end of this year or in early 2026.
This acquisition, which would be the largest of its kind in the stablecoin sector, is a strategic masterstroke by Coinbase to gain its dominance in the foundational infrastructure that powers digital currency payments.
BVNK is a fintech firm founded in 2021 that has carved out a crucial niche. It is a gateway between traditional finance and the digital asset world by allowing businesses to seamlessly use stablecoins like USDC and USDT for complex operations.
These operations include cross-border transactions, managing corporate treasuries, and processing customer payouts. With annual transaction volumes soaring above $20 billion and a client roster that includes major payment processors, BVNK has become a highly attractive target for any company looking to scale digital currency services for enterprise clients.
The Regulatory Nod Brings Stablecoin Boom
Recently, many Fintech companies like Coinbase have been exploring ways to integrate stablecoin payments into their services. This is a direct response to the historic regulatory breakthrough in the United States. This crucial event was the passage of the GENIUS Act, a bipartisan piece of legislation signed into law by U.S. President Donald Trump in July of this year. This law provided the first comprehensive federal framework for stablecoins, ending years of legal ambiguity that had stifled institutional participation.
The GENIUS Act mandates that all USD-pegged stablecoins must be fully backed 1:1 by safe assets like the U.S. Treasury bonds or cash held in reserve. It also requires monthly audits and strict compliance with anti-money laundering laws. By creating clear rules of the road, the Act effectively sidelined unregulated offshore stablecoins and channeled a massive wave of activity and capital back onshore.
The market’s reaction was immediate and explosive. The total value of all stablecoins surged to $300 billion, and on-chain transaction volumes skyrocketed, now rivaling the combined throughput of traditional payment giants Visa and Mastercard.
Coinbase Plans to Acquire Stablecoin Platform
Coinbase’s pursuit of BVNK shows an industry-wide scramble to control the vital plumbing of this new financial system. The company was not the only suitor for BVNK; payment titan Mastercard was also engaged in advanced discussions. It shows the immense strategic value placed on such platforms. This bidding war is a microcosm of a larger trend. Since the GENIUS Act became law, at least a dozen major platforms have moved to either acquire or build their own stablecoin infrastructure.
Visa, an early investor in BVNK, has expanded its own digital currency network to settle billions of dollars in stablecoin transactions each quarter. More strikingly, the world’s largest banks, once vocal skeptics of cryptocurrency, are now leading the charge.
A consortium of banks, including JPMorgan, Bank of America, and Citigroup, is actively developing a consortium stablecoin for real-time international payments. JPMorgan’s own digital token, JPM Coin, already handles a billion dollars in transactions daily.
