Axios reported on October 22, 2026, that Visa is in late-stage negotiations to acquire crypto custody firm Fireblocks for approximately $2.5 billion. The potential deal marks a significant drop from Fireblocks' $8 billion valuation in 2022. Fireblocks explicitly denied the acquisition report, calling it untrue, while Visa declined to comment. The disputed report comes as payment networks aggressively expand stablecoin settlement capabilities.
Acquisition negotiations and response
- ▪Visa is in late-stage acquisition talks to purchase crypto infrastructure provider Fireblocks for approximately $2.5 billion, according to an October 22, 2026 Axios report citing multiple sources.
- ▪A Fireblocks spokesperson denied the acquisition reports in a statement to The Block on October 22, 2026, stating that the report was not true.
- ▪Visa declined to comment on the reports of acquisition negotiations with Fireblocks on October 22, 2026.
Fireblocks valuation history
- ▪The reported $2.5 billion acquisition valuation represents an approximate 69% reduction from Fireblocks' $8 billion valuation established during its $550 million Series E funding round in January 2022.
- ▪Fireblocks' January 2022 Series E funding round included investments from D1 Capital Partners, Spark Capital, General Atlantic, Index Ventures, and Alphabet's CapitalG.
Fireblocks network adoption and integrations
- ▪Fireblocks' payment network processes over $200 billion in monthly stablecoin transactions, with stablecoins representing 69% of digital asset transaction volume on its platform in Q2 2026.
- ▪Bitpace tapped Fireblocks' network infrastructure for stablecoin settlement operations in September 2026.
- ▪Fireblocks integrated Circle's USDC Gateway and Payments Network into its institutional platform in July 2026.
Visa stablecoin and crypto payment initiatives
- ▪Visa partnered with Mesh to support crypto and stablecoin spending at over 175 million merchant locations, expanding payment capabilities.
- ▪Visa introduced commercial USDC funding through Visa Direct on October 15, 2026, naming Inyo Global as its initial participating payment processor.
- ▪Visa launched its Stablecoin Platform in July 2026, starting with Open USD in collaboration with the Open Standard industry initiative.
Fireblocks infrastructure and industry partnerships
- ▪Fireblocks, founded in 2018, provides institutional digital asset infrastructure, holding software used by banks, fintechs, exchanges, and payment processors to handle custody and tokenization.
- ▪In June 2026, Fireblocks participated as an infrastructure partner in the Open Standard initiative and identified Visa among the involved financial institutions.
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