Coinbase Eyes BVNK Acquisition in $2 Billion Push

2nd November 2025 – Coinbase Global Inc. is reportedly in late-stage talks to acquire BVNK, a London-based stablecoin infrastructure firm. The potential deal, valued between $1.5 billion and $2.5 billion, could close by the end of 2025 or early 2026, according to sources familiar with the matter.

If successful, this would mark the largest acquisition ever in the stablecoin sector, surpassing the $1.1 billion Bridge deal. It would also give Coinbase a stronger position in the booming market for blockchain-based payments.

Coinbase Doubles Down on Stablecoins

This acquisition fits squarely into Coinbase’s broader strategy to expand beyond its traditional trading business. In recent quarters, the company has aggressively pushed into stablecoin payments and infrastructure. Already, stablecoin-related activity accounts for nearly 20% of its revenue.

Furthermore, Coinbase is no stranger to BVNK. Its investment arm, Coinbase Ventures, previously backed the London firm. Now, it appears ready to take the next step by bringing the company fully under its umbrella.

Through this deal, Coinbase would gain access to BVNK’s merchant network, compliance framework, and fintech integrations. These tools could help the U.S.-based exchange strengthen its global stablecoin services and build out a more comprehensive payment ecosystem.

Strategic Timing After Strong Q3

Coinbase’s timing is no accident. The company just posted a blowout third quarter, reporting $1.9 billion in revenue. That marked a 25% jump over the previous quarter. The firm also added 2,772 BTC to its holdings, bringing its total Bitcoin stash to more than 14,500 BTC, worth over $1.6 billion.

CEO Brian Armstrong has continued to advocate for Bitcoin and stablecoins, particularly as regulators inch closer to passing clear crypto legislation. According to Armstrong, U.S. lawmakers are “90 percent aligned” on a crypto market structure bill, which could arrive before year-end.

Largest Coinbase Deals

Building the Future of Payments

In parallel with the BVNK acquisition, Coinbase has been testing stablecoin-based corporate transfers with Citigroup. This pilot aims to connect traditional banking systems with blockchain rails, reducing settlement times and fees.

Founded in 2021, BVNK allows businesses to accept and move digital assets, including stablecoins. It has raised nearly $90 million and counts investors like Citi Ventures, Visa Ventures, and Haun Ventures among its backers.

While BVNK attracted interest from other giants like Mastercard, Coinbase appears to be closing the deal. Exclusive negotiations are reportedly underway following a competitive bidding process earlier this year.

If finalized, the acquisition could cement Coinbase’s transformation from a crypto trading platform into a full-stack financial technology company. With stablecoins playing a key role in global finance, Coinbase is positioning itself to lead the next wave of digital payments.