Crypto Exchange Coinbase and Payments Giant MasterCard has each held advanced acquisition negotiations to buy BVNK, a London-based fintech that builds stableecoin payment infrastructure, according to six people who are familiar with the case talking to Fortune.
The discussions have not ended, but several of the sources told Fortune that the potential selling price is between $ 1.5 billion and $ 2.5 billion. Negotiations may still fall apart, yet Coinbase seems to be ahead of MasterCard at this time, three of the sources of Fortune told.
If it is completed, the acquisition would be the largest stablecoin-related deal yet, signaling how mainstream financial and crypto companies compete to control the next wave of digital payments.
A year ago, Stripe acquired another stableecoin startup, Bridge, for $ 1.1 billion, emphasizing the growing demand for blockchain-based payment networks. BVNK operates in a similar space and provides tools that help companies send and receive funds using stablecoins, digital tokens linked to traditional currencies like the US dollar. Its technology enables immediate settlement and lower fees compared to older systems such as Swift or Short Network.
None of the companies commented on the negotiations, Fortune reported. If an agreement is completed, it can reshape how stableecoins flow through both crypto and traditional financial systems.
Read more: Citi joins Visa in supporting StableCOin payments Company BVNK
