A certain exchange plans to acquire stablecoin startup BVNK for $2 billion.

According to ChainCatcher, citing sources from Bloomberg, an exchange named Global Inc. is in the late stages of negotiations to acquire the stablecoin infrastructure startup BVNK, with the deal valued at up to $2 billion.

The acquisition is expected to be completed by the end of 2025 or early 2026. BVNK, founded in 2021, provides enterprise-level stablecoin payment services, and Ventures of the exchange is already one of its investors. This move comes as the stablecoin business becomes increasingly important to the exchange; in the third quarter of 2025, the stablecoin business accounted for 20% of the exchange’s total revenue, approximately $246 million.