Coinbase Targets $2 Billion BVNK Deal for Fresh Stablecoin Push

Leading US crypto exchange Coinbase Global Inc. is in late-stage talks to acquire stablecoin infrastructure startup BVNK in a roughly $2 billion deal, pending due diligence, according to people familiar with the matter.

Coinbase Ventures, the company’s venture capital arm, is an investor in BVNK. San Francisco-based 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. Terms may change and the deal could still fall through.