Rumor has it that Coinbase (COIN.US) plans to spend $2 billion to acquire BVNK to accelerate the deployment of a stablecoin payment ecosystem

The Zhitong Finance App learned that according to people familiar with the matter, US cryptocurrency trading platform giant Coinbase (COIN.US) is in acquisition negotiations with London-based stablecoin infrastructure startup BVNK. The transaction is valued at about 2 billion US dollars, and has now entered the late stages of due diligence investigation. Sources said that if all goes well, the deal is expected to be completed by the end of this year or the beginning of next year, but the terms may still be adjusted, and the possibility that negotiations will eventually come to an end is not ruled out.

According to reports, Coinbase Ventures, the investment division of Coinbase itself, is one of BVNK's existing shareholders, so this transaction is a “post-investment merger and acquisition” model. In response, Coinbase stated that the company would not comment on “rumors or speculations,” but emphasized that its global strategic direction is to advance the mission of expanding economic freedom through “construction, acquisition, cooperation, or investment.” BVNK has yet to respond to media requests for comment.

This potential acquisition occurred after the first US stablecoin regulation bill was officially passed in July this year, triggering a wave of mergers and acquisitions and layout of the crypto payment circuit. According to market news, traditional payment giants such as Visa (VISA.US) and Mastercard (MA.US) are testing stablecoin settlement networks, and many large banks are also exploring blockchain-based cross-border payment and asset tokenization systems. Stablecoins are shifting from “crypto assets” to “payment infrastructure,” becoming the focus of fintech competition.

For Coinbase, the acquisition fits with its business diversification strategy. The company revealed in its third-quarter earnings report that about 20% of its revenue already comes from stablecoin-related businesses and not only relies on crypto transaction fees. In recent years, Coinbase has continuously promoted the expansion of the USDC ecosystem, shared interest income with issuer Circle (CRCL.US), cooperated with Shopify (SHOP.US) to expand merchant payment applications, and launched the “Coinbase Business” platform to provide enterprises with functions such as collection, invoicing, and settlement. The acquisition of BVNK will supplement its merchant stablecoin payment capabilities and further strengthen its transformation into a “cryptographic financial infrastructure company.”

Established in 2021, BVNK's core business is to enable corporate merchants to accept various types of digital asset payments, including stablecoins, and provide a back office for fund management and settlement. The company has raised $90 million so far, with major investors including Citi Ventures, Visa, Haun Ventures, and Coinbase Ventures. Currently, BVNK has completed the layout of stablecoin commercial payment solutions for cross-border trade, internet platforms, and fintech companies.

According to reports, Coinbase won the bid and obtained exclusive acquisition negotiations with BVNK. This means that if there are no major changes, the two parties have already entered the stage of possibly signing a contract. Industry analysts believe that if this deal is finally implemented, it will enable Coinbase to form a differentiating advantage from competitors such as Binance Pay and PayPal (PYPL.US) in the stablecoin commercial payment field.