Coinbase Nears Acquisition of Stablecoin Infrastructure Startup BVNK

JH Kim

Summary

Coinbase said it has entered the final negotiation stage to acquire BVNK, a stablecoin infrastructure company.
It said the acquisition aims to expand Coinbase's share in the global payments market and strengthen its payments ecosystem.
The industry analyzes that the BVNK acquisition is part of Coinbase's efforts to strengthen its stablecoin-centered strategy.

Global virtual asset (cryptocurrency) exchange Coinbase has entered final negotiation stages to acquire stablecoin infrastructure startup BVNK.

On the 31st (local time), Bloomberg reported that Coinbase is currently conducting due diligence on BVNK, and the acquisition amount is said to be about $2 billion. An anonymous source said the acquisition is expected to be completed late this year or early next year.

BVNK, a Europe-based stablecoin payments and infrastructure service company, provides blockchain-based payment systems to banks and fintech firms. Coinbase plans to strengthen its own stablecoin payment ecosystem and expand its share in the global payments market through this acquisition.

Industry insiders analyzed that as Coinbase has recently been strengthening its stablecoin-centered strategy — including a credit service partnership with Apollo and expansion of a USDC-based payment network — the BVNK acquisition is an extension of that.