Coinbase Moves to Acquire BVNK in $2 Billion Stablecoin Expansion

Coinbase Global Inc. is in the process of acquiring BVNK, a London-based stablecoin infrastructure developer worth approximately $2 billion, people with knowledge of the deal said. The deal has not been exempt from due diligence, and it may be concluded before the end of the year or at the beginning of 2026.

The acquisition would increase Coinbase's presence in the rapidly growing market of stablecoin payments and infrastructure, a sector that is gaining traction as financial institutions adopt blockchain-based settlement systems.

A Push into Stablecoin Services

The exchange investment arm, Coinbase Ventures, is already invested in BVNK. The proposed acquisition will enhance Coinbase's position in the stablecoin ecosystem and expand its payment reach globally.

BVNK representatives were not responding to requests. A spokesperson at Coinbase stated that the company does not discuss market speculation. Still, it is pursuing opportunities that will advance its long-term goals to provide greater economic access globally.

The takeover would also give Coinbase a BVNK merchant network, compliance features, and fintech integrations, which could assist the company in expanding its stablecoin and payment offerings.

Expanding Revenue Beyond Trading

The move aligns with Coinbase’s ongoing effort to reduce its reliance on trading fees. Nearly one-fifth of its third-quarter revenue came from stablecoins, the company reported in its latest shareholder update.

Coinbase has been working to increase the adoption of USD Coin (USDC), which it manages with Circle Internet Group Inc. The company also partnered with Shopify to enable merchants to accept stablecoin payments for online sales.

According to Fortune, Coinbase currently holds exclusive rights to negotiate with BVNK after a competitive bidding process earlier this year. While terms remain fluid, both sides are moving toward finalizing a framework for the transaction.

Building a Broader Payments Network

Coinbase’s interest in BVNK reflects its wider ambition to become a leader in digital payment infrastructure. Earlier this week, it launched a pilot program with Citigroup to test stablecoin-based corporate transfers, connecting traditional bank systems with blockchain networks for faster settlement.

Founded in 2021, BVNK has raised approximately $90 million and enables merchants to process both cryptocurrency and stablecoin payments. Its regulatory-ready systems and integration tools could offer Coinbase a stronger foundation in cross-border payments.

Meanwhile, Coinbase Chief Executive Brian Armstrong recently told reporters that U.S. lawmakers are “90 percent aligned” on a crypto market structure bill expected before the end of the year. He said the legislation would provide long-awaited clarity for trading, custody, and stablecoin issuance—conditions that could benefit companies like Coinbase as they expand into mainstream finance.

Conclusion

Coinbase’s potential $2 billion acquisition of BVNK reflects its strategy to expand beyond trading into stablecoin payments and infrastructure. The move could strengthen its global role in digital finance as regulatory clarity for stablecoins continues to take shape.

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