BlockBeats News, November 1st. According to Bloomberg, Coinbase is planning to acquire stablecoin infrastructure startup BVNK for about $2 billion. The acquisition is in late-stage negotiations, with the deal expected to be completed by the end of this year or early next year, subject to completion of due diligence.
If the deal goes through, this will be the latest example in the recent spree of mergers and acquisitions in the stablecoin space. Coinbase’s move is aimed at reducing reliance on transaction fees, diversifying revenue streams, and increasing stablecoin adoption.
