Coinbase, a leading US crypto exchange, is in talks to acquire BVNK, a stablecoin infrastructure startup.
The $2 billion deal is currently pending completion of due diligence, according to Bloomberg.
A Coinbase spokesperson said in a statement that, “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,” as reported by Bloomberg.
Representatives of London-based BVNK didn’t immediately return a request for comment.
If the acquisition is completed, the transaction would be the latest in the pattern of stablecoin-related deals following clearer digital assets regulation in the US.
According to a recent letter to its shareholders, the transaction is a part of Coinbase’s mission to diversify revenue streams from just trading fees.
Coinbase expects to close the deal later this year or early next, according to one of the people, who requested anonymity because the transaction hasn’t been made public.
However, terms may change and the deal could still fall through.
