Visa is reportedly in preliminary talks to acquire Fireblocks, a crypto custody and stablecoin infrastructure company, for approximately $2.5 billion. Fireblocks was valued at $8 billion during its 2022 Series E funding round, while the company has raised more than $1 billion in total funding and serves over 2,500 institutions. The acquisition would give Visa direct control over custody, wallets, and transfer rails linked to its stablecoin card programs. Fireblocks is expected to continue operating independently, but the integration could raise questions about the platform’s neutrality and market concentration.
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