Crypto exchange Coinbase (COIN) remains relentless in its pursuit of expansion. The company is currently in advanced negotiations to acquire London-based stablecoin infrastructure provider BVNK in a deal valued at about $2 billion, according to Bloomberg.
Elevate Your Investing Strategy:
* Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
This comes several days after the exchange pulled back the curtain on its partnership with investment banking titan Citi (C) to build digital asset payment pipelines. Coinbase also recently teamed up with top alternative asset manager Apollo (APO) to “bring [its] stablecoin credit strategies to market.”
BVNK, which was founded in 2021 by Jesse Hemson-Struthers and Donald Jackson, provides payment infrastructure to financial technology companies. The company has raised over $90 million in funding, according to its website.
Wall Street Eyes Stablecoins
The Coinbase acquisition push comes as the passage of the GENIUS ACT earlier this year — a law that permits dollar-backed stablecoins — continues to fuel Wall Street’s push for greater integration with the blockchain technology that underlies stablecoins.
Institutions such as investment banking giant JPMorgan Chase (JPM) and payments heavyweight Fiserv (FISV) are exploring stablecoin projects, even as the former believes the industry will reach $500 billion in market value by 2028.
Coinbase Pushes for Diversification
Meanwhile, the latest effort from Coinbase points to the crypto exchange’s efforts to diversify its revenue sources. The company, which became public in 2021, has expanded into crypto derivatives and decentralized finance. It is now working to establish its footprint in the payments industry, with a recent tie-up with e-commerce platform Shopify (SHOP) to ease USDC payments for merchants.
Coinbase released its third-quarter 2025 financial results on Thursday, showing revenue soared 55% to $1.87 billion compared with the same period last year. The company’s profit climbed fivefold year-over-year to $433 million during the three months.
Is Coinbase a Good Share to Buy?
Turning to Wall Street, Coinbase’s shares currently have a Moderate Buy consensus rating, according to TipRanks. This is based on 15 Buys, eight Holds, and one Sell assigned by 24 analysts over the past three months.
Moreover, the average COIN price target of $388.82 indicates about 13% upside.
