Fireblocks denies reports of a $2.5B acquisition by Visa, though both companies are active in stablecoin settlement infrastructure.
DeFi & Yields ·
Fireblocks has denied reports that Visa is pursuing an acquisition of the crypto custody platform for $2.5 billion. The company stated the rumors are untrue, while Visa declined to comment on the claim. According to reporting, the reported price was well below Fireblocks' $8 billion valuation reached in 2022.
Fireblocks processes over $300 billion in stablecoin transactions monthly and has recently expanded its product offerings to include stablecoin payments infrastructure. Both Visa and Fireblocks operate in the settlement and payments space; Visa has invested in BVNK, another player in stablecoin infrastructure. Mastercard has separately agreed to acquire BVNK for up to $1.8 billion, underscoring broader consolidation interest in the stablecoin settlement sector.
The denial resolves immediate speculation, though the underlying report cited multiple sources. Visa's position and any further development of the companies' commercial relationship remain unclear.