Quick answer: Visa is in late-stage talks to acquire Fireblocks, a stablecoin infrastructure and digital asset custody company, for about $2.5 billion, Axios reported on Oct. 22, 2026, citing multiple sources. No deal has been signed. The price is about 69% below Fireblocks’ $8 billion valuation from January 2022.
The Visa Fireblocks talks are the biggest signal yet that card networks want to own stablecoin plumbing, not just rent it. According to an Axios Pro scoop by Lucinda Shen published at about 12:20 UTC on Oct. 22, 2026, Visa is in late-stage talks to buy Fireblocks for roughly $2.5 billion.
Fireblocks is a custody and stablecoin infrastructure company used by more than 2,500 institutions. If the deal closes, one of the world’s largest payment networks would control a large share of the backend that banks and fintechs use to hold and move digital dollars.
What did Axios report about Visa and Fireblocks?
Axios Pro said Visa (NYSE: V) is in “late stage talks” to acquire Fireblocks for about $2.5 billion, citing multiple sources. Axios framed the deal as part of a wider trend: traditional finance firms are picking up the pace of stablecoin adoption.
Neither Visa nor Fireblocks had confirmed an agreement as of 13:00 UTC on Oct. 22, 2026. Late-stage talks can still fall apart, and the final price and terms could change.
What does Fireblocks do?
Founded in 2018, Fireblocks builds tools that let financial institutions and fintech companies custody, move, tokenize and settle digital assets and stablecoins. Its platform relies on multi-party computation (MPC) wallets, which split private keys so no single device holds the full key.
Crypto Briefing reports the platform serves more than 2,500 institutions, including Worldpay and Euronet, which are payment providers already inside Visa’s network. In January 2025, former Visa executive Vasant Prabhu joined Fireblocks as it expanded into payments. Both companies have also taken part in the Open Standard stablecoin initiative.
Why is the Fireblocks price so far below its 2022 valuation?
Fireblocks hit an $8 billion valuation in January 2022 after a $550 million Series E round. A $2.5 billion sale would be about 69% lower.
That gap reflects how far private crypto valuations fell after the 2022 peak, rather than a collapse in Fireblocks’ business. For Visa, it means buying a mature institutional custody stack at a fraction of what investors paid at the top of the last cycle.
Why does Visa want stablecoin custody now?
Visa has been building stablecoin rails piece by piece. In December 2025 it launched USDC settlement in the United States, with Cross River Bank and Lead Bank settling over Solana, and reported a stablecoin settlement run rate above $3.5 billion a year. On Oct. 15, 2026, Visa Direct moved stablecoin prefunding into production with Inyo Global, which we covered in our Visa Direct USDC prefunding report.
The missing piece has been licensed partners. In August, CoinDesk reported that Visa was searching for a new stablecoin settlement and OTC partner after rival Mastercard bought BVNK. Owning Fireblocks would reduce Visa’s reliance on outside crypto firms.
What are the market implications?
The competition is getting crowded. Mastercard owns BVNK, JPMorgan runs a deposit token on Ethereum, and Mesh linked crypto payments to Visa merchants. A Visa-owned Fireblocks would sit at the center of that race.
For crypto markets, a deal would not move token prices directly, since Fireblocks has no token. Yet it supports the case that stablecoins are becoming core payment infrastructure, which tends to benefit networks that host the most stablecoin volume. Some Fireblocks clients may also ask whether a card network owning their custody provider changes pricing, neutrality or data access.
For everyday users, little changes right away. Over time, faster stablecoin settlement could mean quicker payouts and more cards that spend crypto balances, like the ones in our crypto card guide.
Visa Fireblocks FAQ
Has Visa officially agreed to buy Fireblocks?
No. As of Oct. 22, 2026, Axios reported only that Visa is in late-stage talks to buy Fireblocks for about $2.5 billion, citing multiple sources. Neither company had announced a signed agreement.
How much is Visa reportedly paying for Fireblocks?
About $2.5 billion, according to Axios on Oct. 22, 2026. That is roughly 69% below the $8 billion valuation Fireblocks reached in its January 2022 Series E round.
What does Fireblocks do?
Fireblocks, founded in 2018, provides custody and stablecoin infrastructure that lets institutions hold, move, tokenize and settle digital assets. Crypto Briefing reports it serves more than 2,500 institutions, including Worldpay and Euronet.
Does a Visa Fireblocks deal affect crypto prices?
Not directly, because Fireblocks has no token. However, it strengthens the view that stablecoins are becoming mainstream payment rails, which could support demand for stablecoin-heavy networks over time.
Not financial advice. This article is for information only; always do your own research (DYOR) before making any financial decision.
Sources
- Axios Pro: Visa in talks to acquire Fireblocks for around $2.5B (Oct. 22, 2026)
- Crypto Briefing: Visa in late-stage talks to buy Fireblocks (Oct. 22, 2026)
- Visa: Stablecoin settlement launches in the United States (Dec. 16, 2025)
- Visa: Visa Direct stablecoin pilots move to production (Oct. 15, 2026)
- CoinDesk: Visa looks for a new stablecoin settlement partner (Aug. 18, 2026)
