Coinbase once bid $2.5 billion for BVNK, but Mastercard ultimately completed the acquisition for $1.8 billion.

TechFlow news, August 10, according to CoinDesk, Coinbase once held an advantage in the acquisition competition for BVNK, with a bid potentially reaching up to $2.5 billion, higher than Mastercard's final transaction price of $1.8 billion. However, BVNK's management valued cultural fit and long-term partnership alignment more during the sale process, ultimately did not reach a deal with Coinbase, and Mastercard completed the acquisition of this stablecoin infrastructure company. The report suggests that this bidding war reflects that institutions such as Coinbase, Mastercard, and Visa are accelerating their layout in the stablecoin infrastructure sector.