Coinbase plans to acquire stablecoin startup BVNK for $2 billion

According to Bloomberg, citing informed sources, Coinbase Global Inc. is in the late stages of negotiations to acquire the stablecoin infrastructure startup BVNK, with a deal value potentially reaching $2 billion.

The acquisition is expected to be completed by the end of 2025 or early 2026. Founded in 2021, BVNK provides enterprise-level stablecoin payment services, and Coinbase Ventures is already an investor. This move comes as the stablecoin business becomes increasingly important for Coinbase, with stablecoin operations accounting for 20% of Coinbase's total revenue in the third quarter of 2025, approximately $246 million.