Coinbase (COIN.US) plans to invest $2 billion to acquire BVNK to accelerate the stablecoin payment ecosystem layout.

According to informed sources, the US cryptocurrency exchange giant Coinbase (COIN.US) is in acquisition negotiations with London-based stablecoin infrastructure startup BVNK, with a transaction valuation of approximately $2 billion. The deal is currently in the late stages of due diligence. Sources say that if all goes well, the transaction is expected to be completed by the end of this year or early next year, but terms may still be adjusted, and the possibility of the negotiations falling through cannot be ruled out. It is reported that Coinbase's investment arm Coinbase Ventures is already one of BVNK's existing shareholders, so this transaction falls under the "investment-led acquisition" model. In response, Coinbase stated that the company does not comment on "rumors or speculation," but emphasized that its global strategic direction is to advance economic freedom through "building, acquiring, partnering, or investing." BVNK has not yet responded to media requests for comments. This potential acquisition comes after the first stablecoin regulatory legislation was passed in the US in July this year, sparking a wave of mergers and acquisitions in the cryptocurrency payment sector. According to market reports, traditional payment giants such as Visa (VISA.US) and Mastercard (MA.US) are testing stablecoin settlement networks, and several large banks are exploring blockchain-based cross-border payment and asset tokenization systems. Stablecoins are shifting from "cryptocurrency assets" to "payment infrastructure" and becoming a focus of financial technology competition. For Coinbase, this acquisition aligns with its business diversification strategy. The company revealed in its third-quarter earnings report that about 20% of revenue comes from stablecoin-related businesses, not just relying on cryptocurrency trading fees. Coinbase has been expanding the USDC ecosystem in recent years, sharing interest income with issuer Circle (CRCL.US), partnering with Shopify (SHOP.US) to expand merchant payment applications, and launching the "Coinbase Business" platform to provide businesses with functions such as invoicing, settlement, etc. Acquiring BVNK will enhance its stablecoin payment capabilities for merchants and further strengthen its transformation into a "crypto financial infrastructure company." BVNK was founded in 2021, and its core business is to enable enterprise merchants to accept various digital asset payments, including stablecoins, and provide fund management and settlement back-end. The company has raised $90 million in funding so far, with major investors including Citi Ventures, Visa, Haun Ventures, and Coinbase Ventures. Currently, BVNK has deployed stablecoin commercial payment solutions for cross-border trade, internet platforms, and fintech companies. According to reports, Coinbase has emerged as the winner in the bidding process and has gained exclusive acquisition negotiation rights with BVNK. This means that, barring any significant changes, the two parties have entered the possible signing stage. Industry analysts believe that if this transaction is finalized, it will give Coinbase a differentiated advantage in the stablecoin commercial payment field over competitors like Binance Pay and PayPal (PYPL.US).