- Coinbase is negotiating to buy BVNK for roughly $2 billion, with reported ranges between $1.5B and $2.5B.
- The deal targets stablecoin payments infrastructure, aligning with Coinbase’s USDC strategy and enterprise focus.
- BVNK brings global licensing and banking-rail integrations (SEPA, ACH, SWIFT) for compliant fiat–crypto flows.
- Talks are advanced but not final; closing could land in late 2025 or early 2026 pending due diligence and approvals.
Coinbase is in advanced discussions to acquire London-based BVNK for approximately $2 billion, according to multiple press reports. The potential transaction, still subject to detailed due diligence, would mark one of Coinbase’s most ambitious moves to date and sharpen its push into enterprise-grade stablecoin payments.
While the headline figure centers on $2B, sources describe an indicative range between $1.5 billion and $2.5 billion, with final terms yet to be set. The companies have not issued formal statements, and there is no guarantee a deal will close, though timelines floated in reports point to late 2025 or early 2026 as possible completion windows.
Stablecoin payments infrastructure in focus
BVNK provides businesses with APIs and tools to send, receive, and manage stablecoin flows, bridging crypto with traditional finance via connections to SEPA, ACH, and SWIFT. The company is headquartered in London and holds regulatory permissions in key jurisdictions, including the UK, Malta, Spain, and the US, enabling compliant cross-border operations for enterprise clients.
For Coinbase, the fit is straightforward: the exchange co-launched USDC with Circle and has made stablecoins a core pillar of its roadmap for corporate payments. In the third quarter of 2025, revenue linked to stablecoins represented roughly 20% of Coinbase’s total, underscoring how this segment is becoming a meaningful driver in its business model.
If consummated, the acquisition would give Coinbase the ability to pair custody and on/off-ramps with BVNK’s payment rails, offering near-instant settlement, treasury tools, and streamlined reconciliation for enterprises. That’s the kind of end-to-end stack many multinationals look for when moving funds across borders or handling high-volume payouts.
There is also an existing relationship to build on: Coinbase Ventures is among BVNK’s investors, which could smooth commercial integrations and product alignment, should a deal ultimately be signed.
Global expansion and the competitive backdrop
BVNK says it serves customers across more than 130 countries, with infrastructure designed to meet varied compliance needs. For Coinbase, that footprint would accelerate international expansion in stablecoin settlement and payouts, particularly in regions where connecting blockchain value to local banking systems remains a hurdle.
Competition for assets like BVNK has been intense. Earlier reports indicated that Mastercard also held talks about a potential deal; subsequent coverage suggested Coinbase later secured an exclusive negotiating window after a bidding process. Taken together, those accounts point to growing demand for battle-tested payments infrastructure in the stablecoin arena.
Interest from traditional finance has been rising as well. In early October, Citi Ventures disclosed a strategic investment in BVNK. While the amount wasn’t shared, cofounder commentary indicated the startup’s valuation had moved well above its last publicly reported figure, highlighting increasing institutional attention to stablecoin rails.
Valuation, timing, and regulatory hurdles
The price being discussed is centered near $2 billion, with reporting bracketing the number between $1.5B and $2.5B. As customary in late-stage talks, outcomes can shift based on due diligence findings, market conditions, and regulatory feedback.
Should both sides reach definitive terms, closing could occur toward the end of 2025 or the start of 2026. Coinbase would be positioned to rapidly deploy BVNK’s technology and merchant integrations, adding a sizable book of corporate clients that already operate on stablecoin rails.
Regulatory approvals will be pivotal. The deal would likely face review in the United States and the European Union, where oversight of stablecoin activity, payments, and custody continues to evolve. Integration risk is another factor: aligning systems, compliance frameworks, and product roadmaps across two large organizations is rarely trivial.
For now, the situation remains fluid. No binding agreement has been announced, and both companies have reportedly declined to comment on market speculation. As is often the case with high-profile M&A, talks could change shape—or pause—before reaching the finish line.
The proposed acquisition illustrates Coinbase’s conviction that stablecoins and programmable money are becoming core to modern payments. Bringing BVNK into the fold would extend Coinbase’s reach from exchange services into the fabric of global settlement, potentially giving enterprises a more seamless bridge between bank accounts and blockchain-based value.
