Crypto custody specialist Fireblocks has dismissed reports that it is in talks to be acquired by payments giant Visa for $2.5 billion. “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,” a Fireblocks spokesperson told CoinDesk.
Fireblocks co-founders (Credits: CoinDesk)
Fireblocks Visa Acquisition: Axios Report And The Denial
The rumor came from Axios, which cited multiple unidentified sources saying the company was in late-stage talks with Visa over a $2.5 billion acquisition. Fireblocks shot it down soon after the story broke. Visa did not respond to requests for comment by press time.
A $2.5 billion purchase would be a marked drop in value since 2022, when Fireblocks raised $550 million at an $8 billion valuation. Still, CoinDesk notes that smoke has been circulating over the past three or four weeks about a potential sale of the business — with anonymous sources claiming U.S.-listed Coinbase Global was also in the frame to buy Fireblocks. Coinbase had similarly not replied to requests for comment.
What Fireblocks Does And Why It Matters
Fireblocks specializes in crypto custody using advanced pre-key sharding technologies such as multi-party computation (MPC), serving institutions that need to hold digital assets securely. Any sale of the business would be one of the biggest crypto M&A stories of the year — but for now, the company says there is no deal on the table.
This is a developing story. Claims about the talks come from anonymous sources and are attributed to the reporting outlets that made them.
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Source: CoinDesk — read the full story there.
