KEY INSIGHTS
- The acquisition by Visa of Fireblocks, valued at $2.5 billion, has not yet been confirmed after Fireblocks denied the reports of such an acquisition deal.
- Visa has logged more than $20 billion in annualized stablecoin fines for its payments business.
- Fireblocks conducted a $550 million Series E financing round, with Fireblocks valued at $8 billion in 2022.
The role of Visa in the stablecoin transactions has revealed a possible partnership between Visa and Fireblocks, which is a company offering banks blockchain solutions and digital asset custody services. As per a report by Axios Pro dated October 22, 2026, Visa was negotiating the acquisition of Fireblocks for a value of roughly $2.5 billion. But Fireblocks denied the report, with Visa remaining tight-lipped about the supposed deal.
The contradictory reports make the transaction unconfirmed. The development comes as Visa expands its stablecoin payment services and settlement capabilities, while Fireblocks operates infrastructure that financial institutions and fintech companies use to custody, transfer, tokenize, and settle digital assets.
Visa Fireblocks Deal Remains Unconfirmed
Axios reported that Visa was in late-stage negotiations to acquire Fireblocks, citing multiple sources familiar with the matter. The report placed the potential transaction value at approximately $2.5 billion, but neither the terms nor the progress of any negotiations were publicly confirmed in the supplied reports.
Fireblocks directly challenged the account. A company spokesperson told The Block that the reported acquisition was not true at the time of the statement. Visa, meanwhile, declined to address the claim, stating that it does not comment on rumors or speculation.
Source: Kalshi Crypto
The distinction matters because the reported valuation does not represent an agreed purchase price or a completed transaction.
Fireblocks was last publicly valued at $8 billion in January 2022. That valuation followed a $550 million Series E funding round led by D1 Capital Partners and Spark Capital, according to the supplied company information.
The reported $2.5 billion figure is therefore below Fireblocks’ last publicly disclosed valuation. However, the available material does not establish a new company valuation or explain the basis for the reported acquisition figure.
What Fireblocks Offers Visa’s Stablecoin Business?
Fireblocks provides digital asset infrastructure for financial institutions, fintech companies, and other businesses operating with blockchain-based assets. The services include custody, asset transfer, tokenization, and settlement of transactions, even those relating to stablecoins.
According to the Axios report, the firm has processed about $16 trillion in transactions through over 2,500 clients. The reported customer base includes Worldpay and Euronet, payment providers within Visa’s network.
Fireblocks has further expanded its influence to stablecoin payment networks. It announced the launch of a stablecoin payments network in September 2025 with over 40 partners, including Circle, Bridge, Zerohash, and Yellow Card.
The above services are examples of interest in Fireblocks mentioned above. These services enable management and transfer of digital assets, and Visa has been working on services that would enable financial institutions and businesses to benefit from stablecoins.
Visa Expands Stablecoin Settlement Services
Visa has pursued stablecoin-related services independently of the reported Fireblocks discussions. In July 2026, the firm launched an enterprise platform that was meant to enable financial institutions, fintech firms, and cryptocurrency firms to leverage stablecoin features using the Visa-controlled ecosystem.
In August, Visa partnered with Zerohash to support stablecoin funding and payouts through Visa Direct. The initiative added stablecoin-related capabilities to a service used for money movement.
Visa also reported in September that its stablecoin settlement volume had exceeded a $20 billion annualized run rate. The company said the figure was more than 15 times the level recorded a year earlier.
These events form a historical backdrop that helps explain Visa’s growing presence in the stablecoin infrastructure without having to refer to the controversial acquisition news. These include efforts in enterprise access, financing, payouts, and settlement.
Mastercard’s BVNK Acquisition Provides Competitor Context
The news about Visa’s talks with Fireblocks came at a time when rival payments firm Mastercard was developing its own stablecoin infrastructure plans. Mastercard acquired BVNK in August 2026 following its agreement in March to buy the stablecoin infrastructure provider for up to $1.8 billion.
The agreed amount included $300 million in contingent payments. This makes the reported Visa Fireblocks transaction comparable in subject matter to a confirmed deal involving another major payments company, although the transaction values and terms are different.
FAQs
Is Visa acquiring Fireblocks for $2.5 billion?
The acquisition was reported by Axios, but Fireblocks denied the report. Visa declined to comment, and no completed transaction has been confirmed.
What is the function of Fireblocks?
Some of the services provided by Fireblocks include custody services, asset transfer, tokenization services, and settlement services. The services provided by Fireblocks include those designed for financial institutions and fintech firms dealing with digital assets and stable coins.
What was the valuation of Fireblocks before?
In January 2022, Fireblocks gained a valuation of $8 billion after getting $550 million in a Series E funding round.
