Fireblocks Dismisses $2.5 Billion Visa Takeover Story as 'Not True at Present Time'
Fireblocks Dismisses $2.5 Billion Visa Takeover Story as ‘Not True at Present Time’ #
Fireblocks has flatly denied reports that Visa is in advanced acquisition talks to buy the digital asset infrastructure firm for roughly $2.5 billion, calling the story news to the company. The denial came on the same day that Axios published the original report, citing multiple unnamed sources who described the negotiations as having reached their final stages.
“We are aware of the rumors about a possible acquisition of Fireblocks by Visa,” a Fireblocks spokesperson said in a statement to multiple outlets. “This is news to us, and not true at present time.” Visa issued a terse non-denial, stating it does not comment on rumours or speculation.
The phrase “at present time” in Fireblocks’ denial left some analysts uncertain whether the company is ruling out a deal entirely or only for now. On the record, the only confirmed position is that no deal currently exists.
The reported valuation has drawn almost as much attention as the denial itself. Fireblocks was last valued at $8 billion in January 2022, when it raised $550 million in a Series E round co-led by D1 Capital Partners and Spark Capital. A sale at $2.5 billion would represent a markdown of roughly 69% from that peak, a striking reset for one of the most well-funded firms in crypto infrastructure, though one consistent with the sharp downward repricing that many private tech and crypto valuations have undergone since that frothy period.
The strategic rationale for Visa’s interest, if real, is not difficult to explain. Fireblocks provides institutional custody, stablecoin settlement rails, and tokenisation infrastructure to banks and payments firms globally. Visa and Fireblocks already participate in Open Standard, a cross-industry initiative to build interoperable stablecoin infrastructure. A deal would give Visa proprietary technology in a segment it has so far approached largely through partnerships.
Mastercard completed its acquisition of BVNK, a rival stablecoin infrastructure provider, in August after agreeing to pay up to $1.8 billion, including contingent payments. The BVNK deal has become a point of comparison for analysts watching Visa’s digital-asset strategy. Whether or not acquisition talks with Fireblocks materialise, competition in institutional crypto infrastructure is pushing both card networks toward consolidation.
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