Coinbase Eyes $2 Billion BVNK Acquisition to Strengthen Stablecoin Infrastructure

Coinbase Pursues Major Stablecoin Expansion

Coinbase Global Inc., the world's third-largest cryptocurrency exchange, is reportedly in advanced negotiations to acquire stablecoin infrastructure startup BVNK in a deal valued at approximately $2 billion. This strategic move comes as the United States introduces clearer regulatory frameworks for blockchain-based payments, triggering increased corporate interest in the stablecoin sector.

According to sources familiar with the matter, the acquisition is expected to finalize either later this year or in early 2026, pending completion of due diligence procedures by Coinbase.

Diversifying Revenue Beyond Trading Fees

The potential acquisition represents a strategic shift for Coinbase, which has traditionally depended heavily on cryptocurrency trading fees as its primary revenue source. The stablecoin infrastructure could provide a significant additional income stream for the exchange.

Recent financial data underscores the growing importance of stablecoins to Coinbase's business model. During the third quarter of 2025, stablecoin-related activities generated approximately $246 million in revenue, accounting for 20 percent of the company's total earnings for that period, according to quarterly results released on Thursday.

About BVNK: Enterprise Stablecoin Payment Solutions

Founded in 2021 and headquartered in London, BVNK specializes in providing enterprise-grade stablecoin payment solutions for merchants. The startup has established itself as a notable player in the blockchain payments infrastructure space.

BVNK has raised $90 million in funding over the past four years from prominent investors including Citi Ventures, Visa, and Haun Ventures. Notably, Coinbase Ventures, the venture capital arm of Coinbase, is already an investor in the startup, suggesting a pre-existing relationship between the two companies.

GENIUS Act Catalyzes Corporate Stablecoin Adoption

The proposed $2 billion deal emerges amid a surge in corporate interest in stablecoins, largely driven by the passage of the Guiding and Establishing National Innovation for US Stablecoins Act, commonly known as the GENIUS Act, which was enacted in July.

The legislation established comprehensive regulations for stablecoin operations, including clear rules for collateralization requirements and mandatory compliance with Anti-Money Laundering laws. These regulatory clarifications have created a more favorable environment for institutional stablecoin adoption.

Industry experts view the GENIUS Act as a watershed moment for stablecoins in the traditional financial sector. The legislation has effectively legitimized stablecoins for institutional use, marking the first step toward creating a unified digital financial system that is borderless, programmable, and efficient, according to industry analysts.

Payment Giants Enter the Stablecoin Space

The passage of the GENIUS Act has prompted several major payment companies to announce stablecoin initiatives. In September, Visa launched a pilot program enabling banks, businesses, and remittance firms to fund international payments directly using stablecoins, eliminating the need to pre-fund local accounts in various currencies.

This trend indicates a broader shift in the financial services industry, with established payment processors recognizing the efficiency and cost benefits that stablecoin infrastructure can provide for cross-border transactions.

Strategic Implications for Coinbase

If completed, the BVNK acquisition would position Coinbase to compete more effectively in the enterprise stablecoin payment market. The deal would provide the exchange with established infrastructure and existing relationships with major financial institutions and merchants.

As regulatory clarity continues to improve and more corporations explore stablecoin solutions, Coinbase's investment in payment infrastructure could prove strategically valuable. The acquisition aligns with broader industry trends showing increased convergence between traditional finance and cryptocurrency-based payment systems.

The stablecoin market continues to grow as businesses and financial institutions seek faster, more cost-effective methods for conducting international transactions. With regulatory frameworks now in place and major players making significant investments, the stablecoin sector appears poised for substantial expansion in the coming years.

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