Coinbase and Mastercard in Advanced Talks to Acquire UK Stablecoin Firm BVNK

Group 1 - Coinbase and Mastercard are in advanced talks to acquire London-based stablecoin firm BVNK, with the deal estimated between $1.5 billion and $2.5 billion, and Coinbase reportedly having the upper hand in negotiations [2][8] - If the acquisition is completed, it would represent a significant milestone for both the cryptocurrency and traditional finance sectors, highlighting the convergence of blockchain-based payments with established financial infrastructure [2] - BVNK, founded in 2021, has become a key player in stablecoin infrastructure, assisting businesses in integrating stablecoins into payments and cross-border transactions [3][4] Group 2 - The stablecoin market has seen explosive growth, surpassing $304 billion, driven by the US GENIUS Act, which provides a federal framework for stablecoin issuance and transparency [5] - Stablecoins are considered faster, cheaper, and more efficient than traditional payment systems, with settlement times reduced to seconds [6] - Citigroup is exploring the issuance of a Citi stablecoin and developing tokenized deposit services for corporate clients, indicating increased competition in the stablecoin space [7]