Visa–Fireblocks $2.5B deal rumors denied

On October 22, 2026, reports emerged that Visa was in late-stage talks to acquire stablecoin infrastructure and crypto custody firm Fireblocks for about $2.5 billion. The potential deal was described as marking Visa’s first acquisition in the stablecoin and custody space if it were to go through. The reported price tag would place the transaction among the larger deals in the digital asset industry, though no formal agreement has been announced. Shortly after the reports surfaced, Fireblocks issued a categorical denial that such talks with Visa were taking place at the present time.

Fireblocks stated, “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.” The company framed the acquisition chatter as rumors rather than ongoing negotiations. Visa, for its part, declined to comment on the matter, reiterating that it does not comment on rumors or speculation. As a result, the status of any potential transaction remains unconfirmed beyond the existence of market reports and the subsequent denial.

Fireblocks was last publicly valued at $8 billion in January 2022, when it raised $550 million in a Series E funding round. A $2.5 billion purchase price, as reported, would be significantly below that earlier valuation. The company specializes in cryptocurrency custody, using technologies such as multi-party computation to secure digital assets for institutional clients. Its platform is used to support the storage and movement of crypto assets across various counterparties.

Founded in 2018, Fireblocks has expanded its role in digital asset infrastructure beyond custody. In September 2025, it launched a stablecoin payments network that brought together more than 40 participants. Those participants include firms such as Circle, Bridge, Zerohash and Yellow Card. This network is aimed at enabling stablecoin-based payments and settlement flows among institutions, positioning Fireblocks as a key infrastructure provider in that segment of the market.

Visa has been building out its own stablecoin-related capabilities in recent months. In August, the company partnered with Zerohash to support stablecoin funding and payouts through Visa Direct. Following that partnership, Visa reported that its stablecoin settlement volume had surpassed a $20 billion annualized run rate, more than 15 times the level a year earlier. This expansion underscores the card network’s growing engagement with blockchain-based payment rails.

The rumored interest in Fireblocks surfaced against a backdrop of larger payment networks investing in stablecoin and digital asset infrastructure. Mastercard completed its acquisition of stablecoin infrastructure provider BVNK in August, after agreeing in March to buy the company for up to $1.8 billion, including $300 million in contingent payments. In this context, a $2.5 billion Fireblocks transaction, if ever confirmed, would sit alongside other sizable moves by traditional payments firms into the crypto and stablecoin ecosystem.

Despite the reports that Visa is in late-stage talks to acquire Fireblocks for about $2.5 billion, Fireblocks’ public denial leaves the status of any potential deal unclear. The company has described the acquisition rumors as not true at the present time, and Visa has chosen not to respond beyond declining to comment. No official transaction announcement, terms, or timeline have been disclosed by either party. For now, the situation consists of market reports on one side and explicit denials on the other, set against both firms’ active roles in the evolving stablecoin and digital asset infrastructure market.