Coinbase Global Inc., the world’s third-largest cryptocurrency exchange, is preparing to deepen its involvement in the stablecoin ecosystem with a potential $2 billion acquisition of BVNK, a London-based startup specializing in stablecoin infrastructure.
According to reports from Bloomberg, the two companies are in late-stage negotiations for a deal expected to close either by the end of 2025 or in early 2026, pending final due diligence from Coinbase.
The acquisition would mark one of Coinbase’s largest purchases to date and reflects the exchange’s growing focus on diversifying revenue beyond traditional crypto trading.
Stablecoins have emerged as a critical profit source for Coinbase, accounting for approximately $246 million, or 20% of its total third-quarter 2025 revenue, according to its latest earnings report.
That figure highlights how stablecoin-related services — such as custodial management and institutional payment solutions — are becoming increasingly vital to Coinbase’s long-term business strategy.
Inside BVNK’s Role in Enterprise Payments
Founded in 2021, BVNK provides enterprise-grade stablecoin payment infrastructure to merchants worldwide.
The firm’s technology enables businesses to send, receive, and manage digital assets in a way that mirrors traditional finance, while maintaining the speed and efficiency of blockchain transactions.
Coinbase Ventures, the exchange’s investment arm, is already an investor in BVNK, alongside major backers such as Citi Ventures, Visa, and Haun Ventures.
BVNK has raised roughly $90 million in total funding to date, reflecting institutional confidence in its platform and potential to bridge digital and fiat payments.
The GENIUS Act Spurs Corporate Stablecoin Interest
The renewed corporate enthusiasm for stablecoins has been catalyzed by the passage of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, approved in July 2025.
The act introduced clear guidelines for collateralization, Anti-Money Laundering compliance, and operational transparency for stablecoin issuers.
More importantly, the GENIUS Act has provided legitimacy to stablecoins within the U.S. financial system, paving the way for mainstream adoption.
According to Andrei Grachev, managing partner at DWF Labs and Falcon Finance, the bill represents “the first step toward establishing a unified digital financial system which is borderless, programmable and efficient.”
Corporate Giants Follow the Trend
In the months following the legislation’s passage, several global payment networks have accelerated their blockchain strategies.
Visa, for example, launched a pilot program in September enabling banks and remittance companies to use stablecoins for direct cross-border settlements, bypassing traditional pre-funded accounts.
If the BVNK acquisition proceeds as planned, Coinbase could position itself at the forefront of this evolving digital payments landscape, transforming stablecoins into one of its most powerful growth engines heading into 2026.