The card giant is said to be eyeing the digital asset infrastructure provider at a price far below its 2022 valuation.
Visa is holding late-stage discussions to buy Fireblocks, a provider of stablecoin infrastructure and digital asset custody services, for approximately $2.5 billion, according to Axios, which cited multiple sources.
Founded in 2018, Fireblocks develops infrastructure that enables financial institutions and fintech companies to securely custody, move, tokenize and settle digital assets and stablecoins. Its platform is used by more than 2,500 institutions, including Worldpay and Euronet, the payments providers in Visa’s network.
Fireblocks reached an $8 billion valuation in January 2022 after raising $550 million in a Series E funding round. In January 2025, former Visa executive Vasant Prabhu joined Fireblocks amid its expansion into payments and traditional finance.
Visa and Fireblocks have participated in the Open Standard stablecoin initiative.
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A potential acquisition would give Visa a foothold in technology supporting the movement and custody of digital assets, as interest in stablecoins among established financial institutions has grown rapidly.