Why Visa Would Buy Fireblocks Instead of Building Its Own Rails

Visa Fireblocks talks have reportedly reached a late stage, with a deal valued at about $2.5 billion. The price sits far below the $8 billion valuation Fireblocks reached in early 2022. Fireblocks would give Visa custody, wallet and stablecoin technology already used by thousands of institutions. Neither company has confirmed the deal, and its terms remain undisclosed. Visa is in late-stage negotiations to acquire Fireblocks, the New York-based provider of digital asset custody and stablecoin infrastructure, in a deal that would value the company at roughly $2.5 billion, Axios reported on October 22, citing multiple sources.

Source: Crypto News Flash