The terms and winning bidder haven’t been finalized, but the sale price is in the range of $1.5 billion to $2.5 billion, according to some of the sources. The talks may not result in a final deal, but at present Coinbase appears to have the inside track over Mastercard, three of the sources told Fortune.
BVNK, Mastercard, and Coinbase declined to comment.
The rise of stablecoins have put incumbent financial giants like banks and payment network operators on the defensive. That includes Mastercard, whose share price tanked further in June after the Senate passed the Genius Act.
