Mastercard (NYSE: MA) and Coinbase (NASDAQ:COIN) are both bidding in order to acquire stablecoin infrastructure provider BVNK in a deal that may be valued at around $2.5 billion, according to an update from Fortune.
While citing various sources familiar with the matter, the outlet declared that Coinbase seems to have the inside track over Mastercard, but emphasized that the so-called advanced discussions might not actually lead to a deal.
Recently, UK-based BVNK acquired a strategic investment from Citi. Meanwhile Mastercard competitor Visa has also invested capital in the stablecoin-focapplyd initiative.
Stablecoin adoption is surging, with $27 trillion in overall transaction volume internationally across over a billion transfers complete in 2024, as per the latest data from Visa.
Stablecoins—cryptocurrencies pegged to fiat currencies like the U.S. dollar—are no longer fringe experiments but mainstream contfinishers reshaping global payments and finance. Citigroup‘s report, “Web3 to Wall Street: Stablecoins 2030,” released by the bank’s Citi Institute Global Perspectives and Solutions team, delivers an updated and optimistic blueprint for their trajectory.
Authored by a cadre of Citi experts including Sophia Bantanidis, Ronak Shah, and Ronit Ghose, with insights from PwC, Circle, and the Solana Foundation, the 50-page analysis revises earlier projections upward, painting stablecoins as a $1.9 trillion powerhoapply by decade’s finish.
Stablecoin supply has surged from $200 billion at the start of 2025 to over $300 billion by September, fueled by crypto-native ecosystems, e-commerce integrations, and international demand for USD exposure.
Earlier, another stablecoin-focapplyd firm Bridge was acquired by payments Fintech Stripe in a deal valued at more than $1 billion.
As a licensed e-money institution in the United Kingdom and across European markets, BVNK reportedly offers named IBANs for EUR and GBP.
It offers access to UK and European payment schemes such as Sepa, Sepa Instant and Faster Payments. This enables merchants to sfinish and receive payments from suppliers and their business partners.
The company reportedly processes more than $20 billion annually for international enterprises and payment service providers (PSPs) such as Worldpay and dLocal.
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