Coinbase is close to a deal to acquire BVNK, a London-based stablecoin infrastructure startup, in a transaction estimated at around $2 billion, Bloomberg reported.
The deal is subject to due diligence and has not yet been finalized, with the possibility that the terms may still be modified or talks may break down.
BVNK, founded in 2021, has raised $90 million in funding, the report added, citing the company’s website.
The company’s investors include Citi Ventures, Haun Ventures, Visa and Coinbase Ventures, the investment arm of Coinbase.
The startup provides a platform for merchants to accept payments in various forms, including stablecoins.
A BVNK representative did not respond when contacted for comment.
In a statement, a Coinbase spokesperson said: “We do not comment on rumors or speculation. Driven by our mission to expand economic freedom globally, we are actively exploring various opportunities, whether through construction, acquisition, partnership or investment, to advance our mission.”
Sources suggest that Coinbase hopes to conclude discussions before the end of this year or early next year.
Fortune had already reported on this development last month.
Coinbase has indicated continued interest in expanding its business beyond trading fees, the news publication noted.
In its third quarter letter to shareholders, the company revealed that stablecoins accounted for nearly 20% of its total revenue during that period.
Coinbase executives reiterated during their recent quarterly earnings call that acquisitions remain part of their strategy, particularly in payments-related fields where stablecoins are anticipated to have increasing influence.
In June 2025, Coinbase introduced Coinbase Payments, a platform intended to enable the use of stablecoins for online transactions.
“Coinbase in advanced talks for $2 billion BVNK acquisition: report” was created and originally published by Electronic Payments International, a brand owned by GlobalData.
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