Fireblocks denied an Axios report that Visa was in late-stage talks to acquire the digital asset infrastructure company at a valuation of approximately $2.5 billion. The payments giant declined to comment on the speculation, which would have marked its first major acquisition in the stablecoin sector. A sale at this level would represent a steep discount from the $8 billion valuation reached during Fireblocks’ $550 million Series E round in January 2022. The two companies already work together, with Fireblocks providing infrastructure for more than 160 stablecoin-linked card programs and Visa’s USDC settlement pilots. An acquisition could bring custody and wallet technology in-house at Visa, while raising questions about financial institutions’ reliance on infrastructure owned by a major payments company.
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