The potential acquisition price is reportedly between $1.5 billion and $2.5 billion. Although negotiations have not yet been finalized, Coinbase is currently in the lead. If the BVNK deal is finalized, it would surpass Stripe's $1.1 billion acquisition of Bridge.

Cryptocurrency exchange Coinbase and payments giant Mastercard are in a fierce bidding war to acquire London-based stablecoin fintech company BVNK. The deal, which could reach $2.5 billion, would be the largest stablecoin acquisition to date.

On October 9th, media outlets, citing sources familiar with the matter, reported that both Coinbase and Mastercard were in advanced negotiations to acquire BVNK.

The potential acquisition price is reportedly between $1.5 billion and $2.5 billion. Although negotiations have not yet been finalized, Coinbase is currently in the lead.

BVNK is a London-based fintech company focused on building stablecoin payment infrastructure and providing blockchain-based digital payment solutions for businesses.

Reshaping the Digital Payments Competitive Landscape

This potential acquisition highlights how financial giants from diverse backgrounds, such as Coinbase and Mastercard, are seeking to expand their businesses through stablecoin technology.

Compared to traditional transaction systems like SWIFT, stablecoin payments offer instant settlement and significantly lower transaction fees.

For Coinbase, acquiring BVNK will further strengthen its position in the crypto payment ecosystem; for Mastercard, this move represents a significant strategic shift toward blockchain payment technology.

Analysts believe that regardless of the final winner, this bidding war signals that stablecoin infrastructure will become a core battleground in the next phase of fintech competition, influencing the future direction of digital payment systems.

If the BVNK deal is finalized, it would surpass Stripe's $1.1 billion acquisition of stablecoin startup Bridge to become the largest M&A deal in the stablecoin sector.