TLDR
- Axios reported that Visa is in late-stage talks to buy crypto custody firm Fireblocks for about $2.5 billion.
- Fireblocks called the report “not true at present time,” and Visa declined to comment.
- The reported price is far below Fireblocks’ last public valuation of $8 billion from January 2022.
- Visa has been growing its stablecoin business, with settlement volume above a $20 billion annualized run rate.
- Rival Mastercard finished its purchase of stablecoin firm BVNK in August.
Fireblocks, a crypto custody and infrastructure company, is disputing a report that Visa is in talks to acquire it. The report said the deal could be worth about $2.5 billion.
🚨BREAKING: Fireblocks DENIES reports that Visa is in late-stage talks to acquire the crypto custody firm for $2.5 BILLION.
Fireblocks says the claims are "not true at present time," while Visa declined to comment, per The Block. pic.twitter.com/tEQilX5H0H
— Coin Bureau (@coinbureau) October 22, 2026
“We are aware of the rumors about a possible acquisition of Fireblocks by Visa,” a Fireblocks spokesperson said. “This is news to us, and not true at present time.”
What the report said
Axios published the report on Thursday, citing multiple sources. It said the payments giant was in advanced discussions to buy the firm.
Fireblocks gave its response to Cointelegraph and The Block. Both outlets published the company’s statement on Thursday.
A Visa spokesperson also responded to the outlets. The company said it does not comment on “rumors or speculation.”
Valuation and company background
The reported price would be a steep drop from Fireblocks’ last public valuation. The company announced a value of more than $8 billion in January 2022, after raising $550 million in a Series E round.
Data provider Traxcn lists the $8 billion figure as recently as Dec. 11, 2025. No newer public valuation has been disclosed.
Fireblocks was founded in 2018. It provides custody and infrastructure services for institutions that hold digital assets.
In September 2025, the company launched a stablecoin payments network. The network has more than 40 participants, including Circle, Bridge, Zerohash and Yellow Card.
Deal size and Visa’s stablecoin push
A $2.5 billion deal would rank among the largest acquisitions in crypto history. It would still fall below Coinbase’s $2.9 billion purchase of derivatives exchange Deribit in 2025.
Naver Financial also has a pending all-stock deal to buy Upbit parent Dunamu for about $10.3 billion.
Visa has been expanding its own stablecoin business in recent months. In August, it partnered with Zerohash to support stablecoin funding and payouts through Visa Direct.
The company later said its stablecoin settlement volume had passed a $20 billion annualized run rate. That is more than 15 times the level from a year earlier.
Mastercard, a Visa rival, completed its acquisition of BVNK in August. It agreed to buy the stablecoin infrastructure provider in March for up to $1.8 billion, including $300 million in contingent payments.
As of Thursday, Fireblocks says no acquisition talks with Visa are underway, and Visa has not commented on the report.
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