BVNK’s Acquisition Comes After Coinbase Deal Collapse and Major Investments

[cryptobro]

The acquisition of BVNK by Mastercard follows a previously abandoned $2 billion deal with Coinbase in November 2025, which was mutually canceled during due diligence without a disclosed reason.

BVNK has attracted strong backing from traditional finance players. In 2025, Visa invested through Visa Ventures after a $50 million Series B round led by Haun Ventures.

Later that year, Citigroup’s venture arm also invested, pushing BVNK’s valuation past $750 million.

These investments highlight growing institutional confidence in stablecoin infrastructure as a key layer of future payments.

[mendez]

Lowkey feels like a behind-the-scenes race for who controls the rails of future payments