Coinbase Global (NASDAQ:COIN) saw its stock price climb to $400.71, a 3.54% increase, after reports surfaced that both Coinbase and Mastercard are in advanced discussions about acquiring London-based stablecoin infrastructure firm BVNK. This proposed deal, valued between $1.5 billion and $2.5 billion, would mark the largest stablecoin acquisition to date, exceeding Stripe’s $1.1 billion purchase of Bridge earlier this year. Coinbase is currently seen as the frontrunner in the bidding process, but no final decision has been made yet. This development comes amid a period of explosive growth for the stablecoin market which has soared to over $304 billion, fueled by the US GENIUS Act signed by President Donald Trump in July 2025.