Fireblocks Denies Reports of $2.5 Billion Acquisition Talks with Visa

Fireblocks denies acquisition — Crypto custody firm Fireblocks has denied a report that it is in late-stage talks to be acquired by payments giant Visa for $2.5 billion.

A Fireblocks spokesperson said the rumors were “news to us, and not true at present time” shortly after the report from Axios was published. The report, citing multiple unidentified sources, claimed the companies were in advanced discussions for the acquisition.

Fireblocks is a major provider of institutional-grade digital asset custody and transfer technology, specializing in secure wallet infrastructure using multi-party computation (MPC). The reported $2.5 billion price tag would represent a significant discount from the company’s $8 billion valuation during its last major funding round in 2022, when it raised $550 million.

The denial puts to rest speculation about a major consolidation move in the crypto infrastructure sector involving a traditional finance leader. Visa has previously explored digital asset initiatives, including a crypto advisory service and partnerships with crypto platforms.