Fireblocks has denied an Axios Pro report stating that Visa is in advanced talks to buy the crypto custody company for roughly $2.5 billion.
The company clarified that the news was “not true at present time,” suggesting that a deal could be reached later.
Is Fireblocks going to be acquired by Visa?
Axios Pro, citing multiple sources, reported that Visa is in advanced talks to buy the crypto custody company Fireblocks. The outlet framed the purchase as what would be Visa’s first acquisition in the crypto space. Mastercard, its larger payments rival, already owns a stablecoin company.
A Fireblocks spokesperson cleared up the rumor, saying that the acquisition news is “not true at present time.” Visa’s spokesperson simply said that the company does not “comment on rumors or speculation.”
In a separate incident, Fortune reported that Mastercard was in advanced talks to buy Zerohash. The firm responded by flatly saying it was “not entertaining an acquisition by Mastercard.” Zerohash stayed independent, and Mastercard bought BVNK in March for up to $1.8 billion, including $300 million in contingent payments. The deal was closed in August.
Visa has expanded its stablecoin business without buying any companies. In August, it teamed with Zerohash to handle stablecoin funding and payouts through Visa Direct, and it later reported that its stablecoin settlement volume had crossed a $20 billion annualized run rate, recording a more than 15-fold increase from the level it was a year earlier.
Visa itself had looked at BVNK, according to an early investor in that company, before deciding not to pursue it. Mastercard and BVNK have since launched a joint Global Money Platform.
Would Fireblocks be a good buy for Visa?
Fireblocks, founded in 2018, provides institutional custody and infrastructure for digital assets. The company was last valued at $8 billion in January 2022, when it raised $550 million in a Series E round.
A $2.5 billion price would land well under that figure, but still a deal of that size would be one of the bigger crypto acquisitions on record, just behind Coinbase’s $2.9 billion purchase of derivatives exchange Deribit in 2025 and Naver Financial’s pending $10.3 billion all-stock deal for Upbit parent Dunamu.
Notably, in September 2025, Fireblocks launched a stablecoin network that signed up more than 40 participants, including Circle, Bridge, Zerohash, and Yellow Card.
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