Coinbase Ends Talks to Acquire U.K. Stablecoin Firm BVNK
Coinbase has reportedly terminated acquisition discussions with BVNK, a U.K.-based stablecoin and payments platform, ending what could have been one of the largest transactions in the digital payments sector, Fortune reported.
The negotiations began earlier this year and reached an exclusivity stage in October, with BVNK valued between $1.5 billion and $2.5 billion, according to people familiar with the matter. Coinbase had been leading the bidding process ahead of Mastercard before the talks fell through.
A Coinbase spokesperson confirmed that the deal will not move forward but declined to provide details on the decision.
The acquisition would have expanded Coinbase’s role in cross-border settlements and merchant payment services, complementing its existing partnership with Circle on the USDC stablecoin.
If completed, the BVNK deal would have ranked among the largest mergers in the stablecoin market, underscoring growing institutional competition to integrate blockchain-based payments infrastructure.
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