Reports said Visa is in late-stage talks to buy Fireblocks for about $2.5 billion, though those discussions were described as preliminary and nothing signed. The figure stands in contrast to Fireblocks’ $8 billion valuation from its 2022 Series E; the firm has raised over $1 billion, serves more than 2,500 institutions and has facilitated trillions of dollars in digital asset transfers. Fireblocks is known for custody and MPC wallet technology.
Visa and Fireblocks already work together on stablecoin card programs and Visa runs USDC settlement pilots with an annualized run rate exceeding $3.5 billion and more than 160 stablecoin-linked card programs. Fireblocks said reports of a $2.5 billion acquisition are “not true at present time.” A Visa spokesperson declined to comment on the rumors.