Visa Reportedly in Talks to Acquire Crypto Custody Firm Fireblocks for $2.5B

Visa is in preliminary discussions to acquire digital asset infrastructure provider Fireblocks for approximately $2.5B, according to a report from Axios. The reported $2.5B price tag represents a significant markdown from Fireblocks’ $8B valuation established during its Series E funding round in 2022. Fireblocks has raised over $1B in total capital and provides multi-party computation (MPC) wallet infrastructure to more than 2,500 institutional clients. Visa currently uses Fireblocks infrastructure for its stablecoin card programs and runs USDC settlement pilots with an annualized run rate exceeding $3.5B. The acquisition would grant Visa direct control over custody, wallet rails, and stablecoin issuance capabilities across its 160+ stablecoin-linked card programs.