Fireblocks Denies $2.5 Billion Visa Acquisition Reports

Crypto custody infrastructure provider Fireblocks has denied reports claiming payment giant Visa is in late-stage negotiations to acquire the firm for $2.5 billion. The response follows a report published by Axios Pro citing multiple sources claiming that an acquisition deal was imminent. ## M&A Rumors and Corporate Valuation Fireblocks addressed the claim directly in a statement to The Block, stating: "We are aware of the rumors about a possible acquisition of Fireblocks by Visa. This is news to us, and not true at present time. We don't comment on rumors or speculation." The infrastructure developer was valued at $8 billion following a $550 million Series E funding round in January 2022, after growing its client base from 150 to more than 800 customers in 2021. Fireblocks currently serves 2,500 enterprise clients, including Revolut and ABN AMRO, while processing over $300 billion in average monthly stablecoin volume. Key details surrounding the acquisition report and platform metrics include: * Fireblocks denied an Axios Pro report claiming Visa was in talks for a $2.5 billion acquisition. * The platform maintains 2,500 enterprise customers and processes over $300 billion in monthly stablecoin volume. * In October 2025, Fireblocks acquired wallet developer platform Dynamic, which powers over 50 million onchain accounts. * Competitor Mastercard acquired stablecoin infrastructure provider BVNK for up to $1.8 billion on August 3. ## Expanding Card Infrastructure and Payment Competition Fireblocks has steadily expanded its payments footprint. In October 2025, the firm acquired Dynamic, a wallet developer platform powering over 50 million onchain accounts. In June, Fireblocks launched Flow, enabling payment providers to accept stablecoins. Payments firm Euronet began working with Fireblocks in October 2025 for settlement and pre-funding, and on Monday announced that banks and fintechs can issue stablecoin-funded cards on its Ren and CoreCard platforms using Fireblocks embedded wallets. Fiat deposits convert to stablecoins before being credited to cardholders, even as broader market institutional activity slumps in select sectors. Meanwhile, traditional payment networks continue targeting stablecoin providers. Visa Ventures invested in UK-based payments firm BVNK in May 2025, later selecting BVNK for Visa Direct payout pilots in January. Coinbase previously ended talks to acquire BVNK for $2 billion in November 2025. Mastercard subsequently agreed to buy BVNK for up to $1.8 billion—including $300 million in contingent payments—completing the purchase on August 3. In September, Visa reported that its annualized stablecoin settlement volume surpassed $20 billion, representing a 15-fold increase year-over-year across more than 160 stablecoin-linked card programs. ## Why It Matters The quick denial highlights a significant valuation disparity between market rumors and past funding rounds. Fireblocks' previous $8 billion valuation makes a $2.5 billion takeover unlikely without substantial write-downs, despite slowing venture markets. However, Mastercard's acquisition of BVNK and Visa's expanding stablecoin volume demonstrate that legacy payment networks are aggressively vying to control the digital settlement layer.