Coinbase and Mastercard Compete to Buy Stablecoin Firm BVNK
Coinbase and Mastercard are both trying to buy BVNK, a London-based fintech company. BVNK builds payment systems using stablecoins. The deal could be worth between $1.5 billion and $2.5 billion, according to a report by Fortune on Thursday.
The talks are still ongoing and may not lead to a sale. If completed, this would be the largest stablecoin-related deal so far. It shows how big finance and crypto companies want to lead digital payments.
What BVNK Does and Why It Matters
BVNK creates technology that helps businesses send and receive payments with stablecoins. Stablecoins are digital tokens tied to regular currencies like the US Dollar. This technology can make payments faster and cheaper, especially across borders.
Coinbase is adding stablecoin features for global transfers and merchant payments. Mastercard also wants to grow its role in crypto payments. Both companies see stablecoins as key to the future of money.
Growing Interest in Stablecoins and Market Moves
- Last year, Stripe bought stablecoin startup Bridge for $1.1 billion.
- Circle, which issues the USDC stablecoin, went public on the NYSE in June.
- Tether, the issuer of USDT, plans to go public and may raise $15-$20 billion in private funding.
- Tether’s valuation could reach nearly $500 billion, making it one of the top private firms globally.
These moves show strong demand for blockchain-based payment systems and stablecoins worldwide.
