Fireblocks Denies Reported $2.5 Billion Visa Acquisition Talks

Fireblocks denied reports on Oct. 22 that Visa was negotiating to acquire it for roughly $2.5 billion. Fireblocks supplies infrastructure that banks and exchanges use to secure digital assets and process transfers.

Fireblocks said in a statement:

“We are aware of the rumors about a possible acquisition of Fireblocks by Visa. This is news to us, and not true at present time.”

Founded in 2017 by Michael Shaulov, Idan Ofrat and Pavel Berengoltz, Fireblocks helps institutional customers store, transfer and manage digital assets. Its services include wallet infrastructure, stablecoin payments and tokenization, supporting businesses that provide crypto services to their own customers.

Fireblocks Previously Raised Funding at $8 Billion Valuation

Fireblocks announced a $550 million Series E funding round in January 2022, valuing the company at $8 billion. D1 Capital Partners and Spark Capital led that financing, which brought its total funding to approximately $1.04 billion.

The reported acquisition price would be substantially below that historical valuation. However, the disputed figure does not establish a new valuation or an agreed sale price.

Visa Expands Stablecoin Services Separately

Visa introduced its Stablecoin Platform in July to help financial institutions and fintech companies mint, move and manage stablecoins through a Visa-managed environment. The platform connects those services with existing payment, treasury, and settlement processes.

On Oct. 15, Visa announced that Visa Direct stablecoin pilots were moving into commercial production through Inyo Global, a payments infrastructure provider serving money transmitters, fintechs, and banks. Visa said availability depends on eligibility and geography. 

The integration gives eligible businesses the option to prefund cross-border payouts through Visa Direct with USDC in near real time, rather than relying solely on traditional funding windows.