Coinbase is nearing a deal to acquire BVNK, a London-based stablecoin infrastructure startup, in a transaction estimated at around $2bn, reported Bloomberg.  

The agreement is subject to due diligence and has not yet been finalised, with the possibility that terms could still be altered or the talks discontinued. 

BVNK, founded in 2021, has secured $90m in funding, the report added citing the company website.    

The company investors include Citi Ventures, Haun Ventures, Visa, and Coinbase Ventures, the investment arm of Coinbase.  

The startup provides a platform for merchants to accept payments in various forms, including stablecoins. 

A representative for BVNK did not provide a response when approached for comment. 

In a statement, a Coinbase spokesperson said: “We don’t comment on rumours or speculation. Driven by our mission to expand economic freedom globally, we actively explore various opportunities—whether through building, acquiring, partnering, or investing – to advance our mission.” 

Sources suggest that Coinbase expects to conclude discussions before the end of this year or in early next year.  

Fortune had previously reported on this development last month. 

Coinbase has indicated an ongoing interest in expanding its business beyond trading fees, the news publication noted.  

In its third-quarter letter to shareholders, the firm disclosed that stablecoins accounted for nearly 20% of its total revenue during that period.  

Executives at Coinbase reiterated during their recent quarterly earnings call that acquisitions remain part of their strategy, particularly within payments-related fields where stablecoins are anticipated to have an increasing influence. 

In June 2025, Coinbase introduced Coinbase Payments, a platform aimed at enabling the use of stablecoins for online transactions.