Axios reported this morning that Visa is in talks to acquire Fireblocks for around $2.5 billion. The talks are said to be at an advanced stage, with more than one source backing the report.
Fireblocks provides institutional custody and stablecoin settlement services. It was valued at $8 billion in its 2022 funding round, so this price is just over a 30% discount to that valuation. Visa’s own stablecoin settlement volume has now surpassed $20 billion on an annualized basis. Meanwhile, rival Mastercard completed its acquisition of BVNK in August for up to $1.8 billion.
The catch is that Fireblocks quickly denied the report, calling it inaccurate, while Visa has yet to comment. Until there’s an official announcement, it’s still just a rumor.
The market has barely reacted. BTC is still trading sideways around $81,800 this hour. I think even if this deal goes through, the stablecoin sector is the one that benefits; it doesn’t have much to do with BTC in the short term. Card networks are buying up infrastructure one after another, and demand for regulated stablecoins will only grow. I won’t trade on this news before it’s officially announced.
$USDC $BTC $ETH
#稳定币 #Visa
Fireblocks provides institutional custody and stablecoin settlement services. It was valued at $8 billion in its 2022 funding round, so this price is just over a 30% discount to that valuation. Visa’s own stablecoin settlement volume has now surpassed $20 billion on an annualized basis. Meanwhile, rival Mastercard completed its acquisition of BVNK in August for up to $1.8 billion.
The catch is that Fireblocks quickly denied the report, calling it inaccurate, while Visa has yet to comment. Until there’s an official announcement, it’s still just a rumor.
The market has barely reacted. BTC is still trading sideways around $81,800 this hour. I think even if this deal goes through, the stablecoin sector is the one that benefits; it doesn’t have much to do with BTC in the short term. Card networks are buying up infrastructure one after another, and demand for regulated stablecoins will only grow. I won’t trade on this news before it’s officially announced.
$USDC $BTC $ETH
#稳定币 #Visa