Coinbase Looking To Acquire Stablecoin Startup for $2,000,000,000 Price Tag: Report

Coinbase is reportedly in advanced talks to acquire the stablecoin infrastructure startup BVNK for approximately $2 billion.

The deal, pending due diligence, aims to bolster Coinbase’s stablecoin initiatives, reports Bloomberg.

Coinbase expects to finalize the transaction later this year or early next year unless unforeseen issues arise.

Coinbase Ventures, the exchange’s investment arm, already holds a stake in BVNK, which specializes in stablecoin technology, supporting seamless payments and transfers.

The talks remain private, with details emerging from sources familiar with the matter who requested anonymity.

Coinbase co-founded the CENTRE Consortium with Circle in 2018 to launch and manage the stablecoin USDC, later acquired a minority stake in Circle in 2023 after dissolving the consortium.

It now equally shares USDC reserve interest revenue to promote its adoption.

Coinbase has also partnered with Apollo to develop credit strategies like over-collateralized lending and tokenized holdings in the stablecoin ecosystem, and launched a stablecoin bootstrap fund to deepen DeFi liquidity for assets like USDC across protocols such as Aave and Morpho.