BVNK recently secured investments from Citi Ventures and Visa Ventures, following a $50 million Series B round led by Haun Ventures with participation from Coinbase Ventures and Tiger Global.<\/li>\n<\/ul><\/div>\n<\/div>\n<\/p>\n
The deal, said to be valued between $1.5 billion and $2.5 billion, would the largest in the stablecoin space, surpassing the $1.1 billion sale of Bridge. <\/p>\n
Coinbase, if successful, would gain a foothold in the rapidly growing stablecoin economy and help loosen its dependence on volatile trading fees. <\/p>\n
It\u2019s also a signal that Coinbase wants to act less like an exchange and more like a full-fledged fintech.<\/p>\n
BVNK has drawn attention from big players like Mastercard, but Coinbase appears to be closing in, with the transaction expected to wrap by early next year<\/p>\n
The timing couldn\u2019t be sweeter: Coinbase just posted a blowout quarter with $1.9 billion in revenue, up 25% from the previous three-month period, and CEO Brian Armstrong is going long on Bitcoin \u2014 literally.<\/p>\n
The company added 2,772 BTC to its balance sheet this quarter, bringing its total stash to more than 14,500 Bitcoin, or roughly $1.6 billion worth of digital gold.<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Coinbase Global Inc. is making a high-stakes move into the payments lane. The U.S.-based crypto exchange, according to Bloomberg, entered late-stage talks to acquire BVNK, a London startup that helps…<\/p>\n","protected":false},"author":1,"featured_media":141,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-14964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/14964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=14964"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/14964\/revisions"}],"predecessor-version":[{"id":14965,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/14964\/revisions\/14965"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/141"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=14964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=14964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=14964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}