Bitcoin
Coinbase Ends Acquisition Talks for U.K.-Based BVNK: Report
Credit : www.coindesk.com
Nasdaq-listed crypto alternate Coinbase has ended takeover talks with British stablecoin startup BVNK, which might have halted one of many greatest offers within the historical past of digital funds, in line with experiences Fortune.
Folks conversant in the matter instructed Fortune that Coinbase was main the bidding forward of Mastercard earlier than the talks have been known as off.
For Coinbase, which already points the USDC stablecoin in partnership with Circle, the acquisition of BVNK would have strengthened its place in cross-border funds and expanded its industrial providers footprint.
A Coinbase spokesperson confirmed to Fortune that the deal is now not transferring ahead, however didn’t elaborate on the explanations behind the choice.
Earlier experiences estimated bids for BVNK at $1.5-$2.5 billion, making it one of many bigger M&A offers within the stablecoin house.
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