Capital One has agreed to buy Brex, a fintech company known for its stablecoin payment system, in a $5.15 billion deal.
According to the company’s press release, the purchase combines cash and stock and is expected to be completed by mid-2026.
Capital One’s founder and CEO, Richard Fairbank, said, “Since our founding, we set out to build a payments company at the frontier of the technology revolution”.
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The acquisition will bring Brex’s blockchain-based payment tools into one of the largest US banks.
Brex, which offers corporate cards and finance tools for companies, announced in October that it would become the first global provider to support stablecoin payments directly, starting with USDC
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Pedro Franceschi, Brex’s co-founder and CEO, said on X that he would continue leading the company.
He noted that joining forces with Capital One would help both firms “move faster, invest more deeply, and bring more powerful capabilities to businesses than either of us could alone”.
He added that the partnership is focused on expanding access to better money-management tools for businesses often overlooked by major banks.
Franceschi said, “This story is about growth acceleration, and two founder-led companies coming together to bring a better way to manage money to millions of businesses in the mainstream US economy, who are dramatically underserved by traditional banks”.
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