Coinbase is reportedly in advanced talks to acquire the stablecoin infrastructure startup BVNK for approximately $2 billion.
The deal, pending due diligence, aims to bolster Coinbase’s stablecoin initiatives, reports Bloomberg.
[adinserter block="1"]Coinbase expects to finalize the transaction later this year or early next year unless unforeseen issues arise.
Coinbase Ventures, the exchange’s investment arm, already holds a stake in BVNK, which specializes in stablecoin technology, supporting seamless payments and transfers.
The talks remain private, with details emerging from sources familiar with the matter who requested anonymity.
Coinbase co-founded the CENTRE Consortium with Circle in 2018 to launch and manage the stablecoin USDC, later acquired a minority stake in Circle in 2023 after dissolving the consortium.
It now equally shares USDC reserve interest revenue to promote its adoption.
Coinbase has also partnered with Apollo to develop credit strategies like over-collateralized lending and tokenized holdings in the stablecoin ecosystem, and launched a stablecoin bootstrap fund to deepen DeFi liquidity for assets like USDC across protocols such as Aave and Morpho.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/lucabebe/Natalia Siiatovskaia
