Coinbase (COIN) Stock: Exchange Ends $2 Billion BVNK Acquisition Talks

**Coinbase Ends Acquisition Talks with UK-Based Stablecoin Startup BVNK**

Coinbase has walked away from acquisition negotiations with UK-based stablecoin infrastructure startup BVNK, ending a deal that would have been one of the largest in digital payments history. The talks, which progressed to an exclusivity agreement in October, were mutually ended by both parties without any specific reasons provided.

The proposed acquisition was valued between $1.5 billion and $2.5 billion. Coinbase had reportedly emerged as the frontrunner in the bidding process, beating out major players like Mastercard, which was also exploring a purchase of BVNK earlier this year.

### Expansion of Cross-Border Payments and Merchant Services

If completed, the acquisition would have significantly expanded Coinbase’s presence in cross-border payments and merchant services. While Coinbase already issues the USDC stablecoin through its partnership with Circle, BVNK specializes in stablecoin infrastructure tailored for businesses. The startup helps companies integrate stablecoin payments into their operations, focusing on cross-border transactions and merchant processing.

Adding BVNK to its portfolio would have complemented Coinbase’s existing position in the stablecoin market and broadened its service offerings beyond just issuing stablecoins.

### Growing M&A Activity in the Stablecoin Sector

The collapse of the BVNK deal comes amid a wave of consolidation in the stablecoin and crypto infrastructure sector. In 2024 alone, several large companies have made significant acquisitions:

– Stripe acquired Bridge for approximately $1.1 billion to strengthen its crypto payments capabilities.
– Mastercard is currently in talks to acquire Zerohash, a deal reportedly valued between $1.5 billion and $2 billion.

These moves highlight increasing interest from traditional financial companies in stablecoin technology as a means to enhance cross-border payment solutions.

### Coinbase’s Recent Acquisition Moves

Under the current administration, Coinbase has actively pursued acquisitions to bolster its offerings. Notably, the exchange completed a $2.9 billion purchase of derivatives trading platform Deribit in August.

### Coinbase’s Existing Stablecoin Position

Coinbase maintains a close relationship with Circle through their previous partnership within the CENTRE Consortium, which created the USDC stablecoin. USDC is the second-largest stablecoin by market capitalization, and Coinbase remains one of the primary platforms for its trading and distribution.

Unlike Circle, BVNK does not issue a stablecoin but instead provides infrastructure enabling businesses to adopt stablecoin payments—making it a strategic addition for Coinbase had the deal gone through.

### Conclusion and Next Steps

A Coinbase spokesperson confirmed the end of talks but declined to share further details. Fortune first reported the news, noting that both companies entered the exclusivity period after several months of negotiations starting earlier in 2025. During this period, BVNK was barred from discussing the deal with other potential buyers.

As the stablecoin ecosystem continues to evolve, industry watchers will be keen to see how Coinbase and other major players adjust their strategies in the increasingly competitive digital payments landscape.
https://coincentral.com/coinbase-coin-stock-exchange-ends-2-billion-bvnk-acquisition-talks/