Fireblocks has rejected a report that Visa is in advanced discussions to acquire the cryptocurrency custody and stablecoin infrastructure company for about $2.5bn.
An Axios report on Thursday, citing multiple sources, said the two companies were in late-stage negotiations. Fireblocks disputed the claim in a statement to The Block.
“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,” the company said.
A Visa spokesperson declined to comment, saying: “We don’t comment on rumors or speculation.”
Fireblocks was valued at $8bn at its last publicly disclosed funding round, when it raised $550m in a Series E investment in January 2022. The company, founded in 2018, provides institutional custody services and infrastructure for digital assets.
In September 2025, Fireblocks launched a stablecoin payments network with more than 40 participants. Those involved included Circle, Bridge, Zerohash and Yellow Card.
A deal worth about $2.5bn would have ranked among the biggest acquisitions in cryptocurrency industry history. It would have been smaller than Coinbase’s $2.9bn purchase of derivatives exchange Deribit in 2025 and Naver Financial’s pending all-stock agreement to buy Upbit owner Dunamu for about $10.3bn.
Visa increases focus on stablecoins
Visa has been developing its own stablecoin operations in recent months. In August, it partnered with Zerohash to enable stablecoin funding and payouts through Visa Direct.
Visa later reported that the annualised value of its stablecoin settlements had passed a $20bn run rate. That figure was more than 15 times higher than the level recorded a year earlier.
Visa’s rival Mastercard completed its acquisition of BVNK in August. Mastercard had agreed in March to buy the stablecoin infrastructure provider in a deal worth up to $1.8bn, including $300m in contingent payments.
The report was subsequently updated to include Fireblocks’ denial of the alleged talks and Visa’s response.
