Coinbase and Mastercard have performed talks to buy Stablecoin FinTech BVNK up to $ 2.5B: Fate
The Crypto Exchange Coinbase and Payment Giant Mastercard will each of which will hold advanced acquisition conversations to buy BVNK, a London-based fintech who builds a Stablecoin payment infrastructure, according to six people who are familiar with the matter who has spoken to fate.
The discussions have not yet been completed, but some of the resources told Fortune that the potential sale price is between $ 1.5 billion and $ 2.5 billion. The conversations may still be separate, but Coinbase appears to be preceding Mastercard at this stage, three of the resources told Fortune.
If completed, the acquisition is the biggest deal associated with Stablecoin, which signed how major financial and crypto companies compete to control the next wave of digital payments.
A year ago, Stripe obtained another Stablecoin, Bridge startup, for $ 1.1 billion, emphasizing the growing demand for blockchain -based payment networks. BVNK operates in a similar space, providing tools that will help businesses send and receive funds using stablecoins, digital tokens that are traditionally traditionally currencies like the US dollar. Its technology provides for immediate negotiation and lower fees compared to legacy systems such as SWIFT or Card Networks.
Nor the company commented on the talks, Fortune reported. If a deal is that -confinalizing, it can be once again as refreshing how stablecoins flow into both crypto and traditional financial systems.
Read more: Citi joins the visa on the Stablecoin BVNK payment company
