PANews reported on October 10 that Fortune magazine reported that Coinbase and Mastercard are in advanced negotiations to acquire BVNK, a London-based stablecoin infrastructure company, for a price range of approximately $1.5 billion to $2.5 billion. Coinbase currently has the upper hand, but the deal has not yet been finalized. If completed, it will be the largest stablecoin merger and acquisition to date. Founded in 2021, BVNK provides businesses with stablecoin transactions, cross-border payments, and fund management services. In December 2024, it received $50 million in financing, with a valuation of approximately $750 million. Investors include Haun Ventures, Coinbase Ventures, Tiger Global, and recently, venture capital firms from Visa and Citi have also participated. Stripe acquired Bridge for $1.1 billion this year. BVNK, Mastercard, and Coinbase declined to comment.