Payment giant Visa is reportedly in talks to acquire Fireblocks, a provider of crypto custody infrastructure, at a valuation of approximately $2.5 billion.
According to a report by Wu Blockchain citing Axios, Visa is in talks with Fireblocks about an acquisition that would expand its presence in the digital asset sector. The approximately $2.5 billion figure cited in the report refers to the company’s valuation in a potential deal.
Visa is targeting crypto custody infrastructure
Fireblocks provides infrastructure for the custody of crypto assets. If the acquisition goes through, Visa is expected to expand its operations in both digital asset custody and blockchain-based payment infrastructure.
The report did not share details about the terms of the talks or how far they have progressed. The acquisition report has yet to be confirmed; as such, what is currently on the table is not a completed deal, but talks reportedly underway for a potential acquisition.
Not investment advice.