Fireblocks has officially denied reports suggesting that Visa is in late-stage negotiations to acquire the firm for approximately $2.5 billion. The company stated that the rumors are false and represent news to them.
The speculation emerged following an Axios report citing multiple sources. Had the deal proceeded, it would have marked Visa's first entry into the stablecoin sector and represented a significant valuation drop from the $8 billion Fireblocks reached in January 2022.
Fireblocks was founded in 2018 by Michael Shaulov, Pavel Berengoltz, and Idan Ofrat. The company provides infrastructure for digital asset custody and transfers, serving clients such as BNY Mellon, Revolut, and Galaxy.
The firm claims to have secured trillions of dollars in transfers across more than 150 blockchains. In September 2025, Fireblocks launched a stablecoin payments network featuring over 40 participants, including Circle and Bridge.
Payment industry incumbents have been actively pursuing crypto infrastructure assets. Mastercard acquired BVNK for up to $1.8 billion in 2026, while Visa reported its stablecoin settlement volume exceeded a $20 billion annualized run rate in September.
