Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

Coinbase Looking To Acquire Stablecoin Startup for $2,000,000,000 Price Tag: Report

robot
Abstract generation in progress

Coinbase is reportedly in advanced talks to acquire the stablecoin infrastructure startup BVNK for approximately $2 billion.

The deal, pending due diligence, aims to bolster Coinbase’s stablecoin initiatives, reports Bloomberg.

Coinbase expects to finalize the transaction later this year or early next year unless unforeseen issues arise.

Coinbase Ventures, the exchange’s investment arm, already holds a stake in BVNK, which specializes in stablecoin technology, supporting seamless payments and transfers.

The talks remain private, with details emerging from sources familiar with the matter who requested anonymity.

Coinbase co-founded the CENTRE Consortium with Circle in 2018 to launch and manage the stablecoin USDC, later acquired a minority stake in Circle in 2023 after dissolving the consortium.

It now equally shares USDC reserve interest revenue to promote its adoption.

Coinbase has also partnered with Apollo to develop credit strategies like over-collateralized lending and tokenized holdings in the stablecoin ecosystem, and launched a stablecoin bootstrap fund to deepen DeFi liquidity for assets like USDC across protocols such as Aave and Morpho.

TAG5.67%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)