Visa reportedly in talks to acquire Fireblocks for $2.5 billion

Visa has reportedly entered late-stage negotiations to acquire cryptocurrency custody and stablecoin infrastructure provider Fireblocks for approximately $2.5 billion, potentially adding institutional digital asset technology to the global payments company’s operations. Summary Visa is reportedly negotiating a roughly $2.5 billion acquisition of digital asset infrastructure provider Fireblocks. The reported purchase price is approximately 69% below Fireblocks’ $8 billion valuation in January 2022. Fireblocks provides institutional custody, stablecoin settlement and tokenization infrastructure to banks and payment companies. Visa and Fireblocks already participate in Open Standard, an initiative supporting stablecoin infrastructure. Neither company has announced a definitive agreement, and the proposed transaction remains subject to negotiation. According to an October 22 Axios report, multiple sources familiar with the discussions confirmed that the companies were negotiating a possible acquisition, with one source indicating that talks had reached their final stages. The proposed $2.5 billion purchase price represents a considerable reduction from the valuation Fireblocks received...