Overview
- Axios reported Thursday that Visa was in late-stage talks to acquire Fireblocks for about $2.5 billion, citing multiple unnamed sources.
- Fireblocks issued a same-day denial saying the claim is “news to us, and not true at present time,” while Visa declined to comment and Coinbase denied involvement when named.
- The reported price would be far below the roughly $8 billion valuation Fireblocks received in January 2022, a gap that would hit late-stage investors if a sale at that level occurs.
- Fireblocks supplies custody, wallet and stablecoin settlement technology and says its network routes large monthly stablecoin flows, and Visa already uses its infrastructure for dozens of stablecoin-linked programs.
- The episode fits a wider trend of card networks buying or partnering with stablecoin infrastructure firms, and the lack of confirmation means markets and customers are watching for further disclosure or a deal announcement.