Coinbase Considers $2 Billion Acquisition of BVNK Startup to Boost Stablecoin Efforts

Coinbase Global Inc., recognized as the world's third-largest cryptocurrency exchange, is making strides in its stablecoin initiatives following important legislation in the United States that has sparked renewed interest in blockchain-based payment systems.

Key Takeaways:

Coinbase is in advanced discussions to acquire stablecoin startup BVNK for $2 billion.
This acquisition could enhance Coinbase's revenue streams, particularly from stablecoin transactions.
BVNK, founded in 2021, specializes in stablecoin payment solutions for merchants.
The recent passage of the GENIUS Act has triggered significant corporate interest in stablecoins.

Coinbase is reportedly engaged in late-stage negotiations for the acquisition of BVNK, a startup focused on stablecoin infrastructure, in a deal valued at $2 billion, as reported by Bloomberg. According to sources familiar with the situation, the acquisition is expected to finalize by the end of this year or early 2026, pending due diligence from Coinbase.

The push towards stablecoins may provide Coinbase with a new revenue stream, as it primarily depends on cryptocurrency trading fees for profit. In the third quarter of 2025, approximately $246 million, or 20% of Coinbase's total revenue, was attributed to stablecoin transactions, according to earnings results released on Thursday.

Coinbase's total revenue, millions, third quarter of 2025. Source: investors.coinbase.com

Founded in 2021 and based in London, BVNK provides enterprise-grade stablecoin payment solutions for merchants. Coinbase Ventures, the investment arm of Coinbase, has invested in the startup. Over the past four years, BVNK has secured $90 million in funding from notable investors, including Citi Ventures, Visa, and Haun Ventures.

Coinbase Considers $2 Billion Acquisition of BVNK Startup to Boost Stablecoin Efforts

Legislative Changes Driving Corporate Interest

The potential acquisition of BVNK aligns with a growing trend of corporate interest in stablecoins, invigorated by the passage of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in July. This legislation introduced clear guidelines for stablecoin collateralization and mandates adherence to Anti-Money Laundering regulations.

The GENIUS Act has significantly "legitimized" the use of stablecoins for institutional purposes, acting as a pivotal step towards creating a "unified digital financial system that is borderless, programmable, and efficient," as stated by Andrei Grachev, managing partner at DWF Labs and Falcon Finance.

Following the act's passage, numerous payment industry leaders, including Visa, have announced plans to develop their own stablecoin systems. In September, Visa initiated a pilot program allowing banks, businesses, and remittance companies to utilize stablecoins for international payments directly, eliminating the need for pre-funding local accounts.

In conclusion, Coinbase's strong interest in acquiring BVNK indicates a strategic move to enhance its operations within the stablecoin sector, supported by favorable regulatory developments that could reshape the landscape of digital finance.