Fireblocks denied an Axios report that Visa was in late-stage discussions to acquire the digital-asset infrastructure company for approximately $2.5 billion. The report was published on October 22, 2026, and Fireblocks said the proposed transaction was not true at present; Visa declined to comment. Fireblocks, founded in 2018, provides custody, wallet, settlement, tokenization and stablecoin infrastructure to more than 2,500 institutional clients. It raised $550 million in a January 2022 Series E round at an $8 billion valuation and has raised more than $1 billion overall. A transaction at the reported price would be about 69% below that financing valuation. Visa already uses Fireblocks’ infrastructure for more than 160 stablecoin-linked card programs and USDC settlement pilots. Fireblocks says its network processes more than $200 billion in stablecoin transactions monthly, while stablecoins accounted for 69% of digital-asset transaction volume on its platform in the second quarter of 2026. The companies also participate in Open Standard, and Fireblocks launched a stablecoin payments network with more than 40 participants, including Circle and Bridge, in September 2025. A completed acquisition could give Visa greater control over custody and institutional digital-asset infrastructure, while raising questions about client relationships, private-market valuations and competition among infrastructure providers.