The crypto and payments industries could be at a turning point with Coinbase and Mastercard fighting over the ownership of BVNK. A London-based business that lends support to the stablecoin infrastructure. According to sources, the two giants are engaging in discussions to take over BVNK, and the deal might range from $1.5 billion to $2.5 billion.
Those who know the details of the matter consider Coinbase Stripe-Bridge deal
BVNK provides the necessary infrastructure for corporate treasury activities, stablecoin payments, and cross-border money transfers. The startup’s middleware allows traditional companies to utilize blockchain technology while keeping the requisite regulatory and compliance requirements. In December 2024, BVNK raised $50 million in a funding round led by Visa and other investors, giving the company a valuation of roughly $750 million.
The company’s value is in its ability to connect traditional with digital finance. Owning such infrastructure may become strategically crucial as stablecoins increasingly support settlements and payments. For Coinbase, purchasing BVNK would allow it to extend its footprint beyond exchange and custody operations into transaction-layer infrastructure. On the other hand, Mastercard seems to see BVNK as a means of protecting its position in payments as blockchain-based settlement gathers speed. Getting a governed stablecoin layer would boost its ability to link tokenized money to current systems.
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Observers point out that both businesses see ‘programmable dollars’ as a challenge to conventional economic exchange. Stablecoin rails that circumvent card networks call on incumbents either to change or face disturbance. On the regulatory level, mid-2025’s passage of the U.S. GENIUS Act
