Fireblocks says it is not being bought by Visa. At least, not right now.
On October 22, 2026, Axios reported that Visa was in late-stage talks to acquire the digital asset infrastructure company at a valuation of approximately $2.5 billion. Fireblocks pushed back the same day. Its response was short, pointed, and carefully worded.
“This is news to us, and not true at present time.”
Visa declined to comment on the speculation.
What was reported, and what was denied
According to the Axios report, the payments giant was in advanced discussions to buy Fireblocks outright. The company provides custody and stablecoin infrastructure for institutional clients.
If it happened, the deal would reportedly be Visa’s first major move into the stablecoin sector through an acquisition.
The valuation gap nobody can ignore
The reported price tag is where things get uncomfortable. Fireblocks raised $550 million in its Series E round in January 2022, at a valuation of $8 billion.
A sale at approximately $2.5 billion would represent a steep markdown from that peak. Put simply, the company would be changing hands for well under a third of what investors paid to get in during the last crypto boom.
Fireblocks has raised over $1 billion in total funding since its founding in 2018. A deal at the reported figure would raise awkward questions for late-stage backers who bought in near the top.
Why Visa and Fireblocks already know each other well
This would not be a cold introduction. The two companies already work together.
Visa uses Fireblocks’ infrastructure for more than 160 stablecoin-linked card programs. Fireblocks also supports Visa’s USDC settlement pilots, which test using the dollar-pegged stablecoin to settle payments.
Fireblocks serves more than 2,500 institutional clients with custody and wallet infrastructure. In September 2025, it launched a stablecoin payments network with over 40 participants, including Circle and Bridge.
What this means for stablecoins and the industry
For Visa, owning a firm like Fireblocks would bring custody, wallet technology, and an institutional client base under one roof. It would also give Visa direct control over infrastructure it already leans on for card programs and settlement tests.
For Fireblocks, selling at a fraction of its 2022 valuation would deliver a high-profile exit, but at a price that resets expectations for the company and possibly its peers.
If a leading infrastructure firm with thousands of institutional clients were priced at roughly a third of its peak, other privately held crypto companies could face harder conversations with investors about their own valuations.
There is also a competitive angle. If Visa took Fireblocks in-house, other financial institutions that rely on Fireblocks might reconsider whether they want their infrastructure owned by a major payments player.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.