Coinbase Global Inc., the world’s third-largest cryptocurrency exchange, is continuing its stablecoin push, after key legislation in the United States sparked a renewed wave of corporate interest in blockchain-based payments.
Coinbase exchange is reportedly in late-stage talks to acquire stablecoin infrastructure startup BVNK in a $2 billion deal, according to a report by Bloomberg, citing people familiar with the matter.
The $2 billion acquisition is expected to close later this year or in early 2026, pending due diligence from the exchange, according to the anonymous source.
The stablecoin push could bring an additional source of revenue for Coinbase, which primarily relies on cryptocurrency trading fees to generate profits.
However, about $246 million, or 20% of Coinbase’s revenue, came from stablecoins during the third quarter of 2025, according to the exchange’s earnings results, published on Thursday.
Related: Bitcoin white paper turns 17 as first red October in 7 years looms for BTC
Founded in 2021, London-based BVNK offers merchants enterprise-grade stablecoin payments. Coinbase’s venture capital wing, Coinbase Ventures, is an investor in the stablecoin infrastructure startup.
BVNK raised $90 million in funding over the past four years, from investors including Citi Ventures, Visa and Haun Ventures, according to the startup’s homepage.
Related: ETFs will usher institutions into altcoins, just like Bitcoin: Analyst
GENIUS Act’s passage sparks corporate stablecoin push
The $2 billion deal would mark the latest large-scale acquisition amid a growing wave of corporate interest in stablecoins, catalyzed by the passage of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in July.
The GENIUS Act established clear rules for stablecoin collateralization and mandates compliance with Anti-Money Laundering laws.
More importantly, the bill has “legitimized” stablecoins for institutional usage, as the “first step” toward establishing a “unified digital financial system which is borderless, programmable and efficient,” Andrei Grachev, managing partner at DWF Labs and Falcon Finance, told Cointelegraph.
The passage of the act inspired multiple payment giants to announce plans for a stablecoin. In September, Visa launched a pilot program that enabled banks, businesses, and remittance firms to fund international payments directly with stablecoins, rather than pre-funding local accounts.
Magazine: Bitcoin vs stablecoins showdown looms as GENIUS Act nears
