Cryptocurrency custody firm Fireblocks dismissed reports of a $2.5 billion acquisition by Visa. A company spokesperson said Fireblocks was "aware of the rumors" but called them "not true at present time."
Axios published the initial report citing multiple unidentified sources claiming the two companies were in advanced acquisition discussions with a $2.5 billion valuation.
Fireblocks provides crypto custody solutions for institutional clients using multi-party computation (MPC) and advanced key sharding technologies to secure digital assets.
A $2.5 billion price would represent a steep drop from the company's 2022 valuation. Fireblocks raised $550 million that year at an $8 billion valuation—meaning the reported offer sits below one-third of that figure.
Coinbase Global was also rumored as a potential acquirer. Coinbase denied any involvement in a possible transaction on Oct. 22. Visa did not respond to requests for comment.
