Coinbase Drops Plan to Buy BVNK in $2B Deal
Coinbase has pulled the plug on its plan to acquire BVNK, a London-based startup focused on stablecoin infrastructure. The deal was reportedly worth around $2 billion and had been expected to close sometime between late 2025 and early 2026. It would have marked one of Coinbase’s most significant acquisitions to date and positioned the exchange as a serious contender in the stablecoin payments sector.
How the Deal Got This Far
Back in October, word got out that Coinbase was deep into negotiations with BVNK. Reports described the talks as being in “late-stage,” with insiders saying Coinbase Ventures already had an investment stake in BVNK. That connection seemed to smooth the path for a full acquisition.
BVNK had been gaining momentum with its stablecoin services and caught the attention of other big players, too, including Mastercard. The startup had processed large volumes of payments and was being closely watched by fintech firms eyeing the future of cross-border payments.
What Went Wrong Behind the Scenes
Things looked promising on paper, but a mix of factors reportedly led Coinbase to step back. Sources close to the matter point to due diligence issues, market volatility, and shifting internal goals as reasons the deal was shelved.
Even when the acquisition seemed likely, there were still hints it could unravel. Coinbase’s earnings at the time showed that stablecoin-related revenue was growing fast, making BVNK seem like a good fit. But with the regulatory environment tightening and large deals facing more scrutiny, the company may have decided it was not the right moment to move forward.
DISCOVER: 20+ Next Crypto to Explode in 2025
Coinbase Has to Rethink Its Stablecoin Game Plan
Without BVNK, Coinbase will need to find other ways to scale its stablecoin and payments infrastructure. The acquisition would have brought BVNK’s platform and potential for global payment flows directly into Coinbase’s orbit.
Now, the company may turn to smaller deals, build from within, or partner with other firms to achieve its goals. The gap left by this cancelled deal means Coinbase has more work ahead if it still wants to lead in the stablecoin space.
BVNK Stays Independent and Keeps Growing
For BVNK, the end of the deal doesn’t mean the end of opportunity. The company stays independent and continues to grow, reportedly moving over $20 billion in annualised transaction volume. It also counts big names like Visa Ventures and Citi Ventures among its backers.
Even though the $2 billion buyout is off the table, BVNK still has momentum and could explore new partnerships or fundraising rounds to keep expanding.
DISCOVER: Best New Cryptocurrencies to Invest in 2025
What This Says About the Industry Right Now
This failed acquisition sends a message. Big deals in the crypto payments space are getting harder to close. Valuations may look attractive, but behind the scenes, there are hurdles, regulations, risk management, and shifting strategies.
For companies watching from the sidelines, this might signal a need to be more cautious when chasing large buyouts in the infrastructure space.
What Comes Next
Coinbase now has to decide how to move forward. Will it look for other acquisition targets or invest in building its own tools? That remains to be seen. BVNK, meanwhile, will need to prove its model works without a parent company behind it. This could shape how other startups and investors approach the stablecoin and crypto payments market in the months ahead.
DISCOVER: 20+ Next Crypto to Explode in 2025
Join The 99Bitcoins News Discord Here For The Latest Market Updates
Key Takeaways
- Coinbase canceled its $2 billion deal to acquire stablecoin startup BVNK after months of negotiations.
- The acquisition would have boosted Coinbase’s position in stablecoin payments and cross-border infrastructure.
- Due diligence concerns, market volatility, and changing internal priorities reportedly led to the decision.
- BVNK remains independent, processing $20 billion in annual volume with backing from major venture firms.
- The move highlights growing challenges in closing large crypto infrastructure deals under regulatory pressure.
The post Coinbase Drops Plan to Buy BVNK in $2B Deal appeared first on 99Bitcoins.
About The Author
