Coinbase Walks Away From Deal to Acquire U.K. Stablecoin Startup BVNK
Coinbase has ended discussions to acquire BVNK, a U.K.-based stablecoin and payments startup, according to Fortune. The talks, which began earlier this year and advanced to an exclusivity phase in October, had valued BVNK between $1.5 billion and $2.5 billion, people familiar with the matter said.
The Nasdaq-listed exchange was reportedly leading the bidding process, outpacing Mastercard, before the negotiations were halted. A Coinbase spokesperson confirmed the deal will not proceed but declined to comment on the reasons behind the decision.
A successful acquisition would have strengthened Coinbase’s position in cross-border payments and merchant services, complementing its existing USDC partnership with Circle.
Had the deal gone through, it would have ranked among the largest mergers in the stablecoin and digital payments space, underscoring rising competition between traditional finance and crypto-native firms to dominate blockchain settlement infrastructure.
