- Coinbase and BVNK ended $2B acquisition talks after late-stage due diligence discussions.
- The deal collapse halts Coinbase’s push to expand its stablecoin payments infrastructure.
- Mastercard was an early bidder for BVNK before shifting focus to acquiring Zerohash.
Nov. 11 (Crypto-News.Net) – Coinbase and U.K.-based stablecoin infrastructure startup BVNK have mutually ended discussions for a potential acquisition valued at approximately $2 billion.
Coinbase confirmed the decision in a statement provided to media outlets. “After discussing a potential acquisition of BVNK, both parties mutually agreed not to move forward,” the company said, according to a report from Fortune. The same report noted that BVNK declined to comment on the matter.
The collapse follows reports from late October 2025 that the two companies had entered late-stage exclusivity talks. The deal, which had reportedly progressed to the due diligence stage, was valued at roughly $2 billion, as first reported by Bloomberg.
Competitive Bids and Stablecoin Strategy
BVNK is a financial technology company focused on stablecoin infrastructure for cross-border payments. The U.K.-based firm provides services such as stablecoin payouts for global payroll platforms, according to its company blog. Stablecoins are cryptocurrencies designed to maintain a stable value.
The acquisition talks with Coinbase followed a competitive bidding process for BVNK. Payments giant Mastercard was also reportedly in the running to acquire the startup before Coinbase secured the exclusivity period, Fortune reported on Oct. 29. Mastercard later shifted to acquiring Zerohash.
M&A Context and Undisclosed Reasons
The attempted acquisition was part of Coinbase’s broader strategy to expand its stablecoin-related services, which include other initiatives like its Coinbase stablecoin payments protocol.
No specific reasons for the deal’s collapse were disclosed by either Coinbase or BVNK, outside of the confirmation that the decision was mutual. Furthermore, there were no public reports citing potential regulatory hurdles or specific adverse due diligence findings that may have contributed to the decision. The event occurs amid a landscape of ongoing 2025 crypto fund acquisitions, as firms continue to consolidate services in the digital asset sector.
