Fireblocks has denied reports that Visa is in talks to acquire the cryptocurrency custody and infrastructure provider for approximately $2.5 billion, contradicting an Axios report that cited multiple sources familiar with the matter.
“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,” a Fireblocks spokesperson told CoinDesk on October 22.
The reported transaction comes as Visa expands its stablecoin and blockchain operations, while Fireblocks continues to develop infrastructure for institutional digital asset services. However, neither company has announced an acquisition agreement, and a Visa spokesperson declined to comment, citing the company’s policy of not commenting on rumours or speculation, according to Axios.
Fireblocks Denies Acquisition Reports Amid Valuation Speculation
Axios reported that Visa was in late-stage negotiations to acquire Fireblocks for approximately $2.5 billion, citing multiple unidentified sources. The Block also covered the reported discussions, while Fireblocks’ public denial disputed the claim that an acquisition was being pursued.
The reported price would be below Fireblocks’ last publicly reported valuation of $8 billion in January 2022, when the company raised $550 million in a Series E funding round. Speculation about a potential sale had also circulated in recent weeks, with anonymous sources previously mentioning Coinbase as another possible buyer. Coinbase later denied any involvement in a potential transaction, CoinDesk reported.
Fireblocks provides digital asset custody and blockchain infrastructure for institutional clients. Its services help businesses secure cryptocurrencies, manage digital asset transactions and connect with blockchain-based financial networks. The company has expanded its offering beyond custody through acquisitions, including its purchase of TRES Finance, which added accounting, reporting and audit capabilities to its platform.
Investor Takeaway
Fireblocks rejected reports of a potential $2.5 billion Visa buyout, disputing claims of late-stage negotiations as speculation also linked Coinbase to a possible acquisition.
Visa Advances Stablecoin Payments and Settlement
Visa has expanded its stablecoin settlement operations as payment providers seek ways to integrate blockchain-based transactions into traditional financial services. In September, the company reported that its stablecoin settlement volume had exceeded a $20 billion annualized run rate, more than 15 times the level recorded a year earlier, according to Visa’s stablecoin settlement figures.
The payments company has also worked with infrastructure providers to extend stablecoin transfers to existing payment services. In August, the company partnered with zerohash to introduce stablecoin funding and payouts through Visa Direct, allowing eligible business clients to prefund payments and send payouts using stablecoins.
Visa has also moved into blockchain network operations. In April 2026, it joined the Stripe-backed Tempo blockchain as an anchor validator, participating in the network’s operations as it explores payment applications, including automated transactions. The company has pursued further investment in stablecoin infrastructure through its investment in BVNK, which supports the development of payment infrastructure connecting stablecoins with traditional financial systems.
Investor Takeaway
Visa’s stablecoin settlement volume exceeded a $20 billion annualized run rate, while partnerships with zerohash and investments in BVNK expanded its stablecoin payment infrastructure.
