Fireblocks, the crypto custody and stablecoin infrastructure company, pushed back on Thursday against a report that Visa is close to acquiring it for about $2.5 billion.
Axios Pro, citing several unnamed sources, said on Oct. 22 that the card network was in late-stage talks to buy Fireblocks.
“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,” Fireblocks told The Block.
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Coinbase Also Named
Visa was not the only company tied to a possible deal. Anonymous sources told CoinDesk that Coinbase had also been considered as a buyer, as talk of a Fireblocks sale circulated over the past three to four weeks. Coinbase reportedly denied any involvement after CoinDesk’s story ran.
Coinbase has explored a large stablecoin infrastructure purchase before. It and BVNK called off talks on a roughly $2 billion acquisition in November 2025.
Card Networks and Stablecoins
Visa has been growing its stablecoin business. In August, it began working with Zerohash so that Visa Direct could support stablecoin funding and payouts, and it later said stablecoin settlement was running at an annualized pace above $20 billion, up more than 15-fold in a year.
Mastercard in August closed its purchase of BVNK, the stablecoin infrastructure provider Coinbase had been interested in. It had agreed in March to pay up to $1.8 billion for the company, including $300 million in contingent payments.
Below the 2022 Valuation
Founded in 2018, Fireblocks serves institutions holding digital assets and secures keys with multi-party computation (MPC). In September 2025 it launched a stablecoin payments network with more than 40 participants, among them Circle, Bridge, Zerohash and Yellow Card.
A sale at the reported price would value Fireblocks at less than a third of its last public valuation. The company raised $550 million in a Series E round in January 2022 at an $8 billion valuation.
Related Listen: Can Blockchains Solve the Fraud Problem Cards Can’t?
