Capital One to acquire Brex in $5.15B stablecoin fintech deal

Capital One announced a $5.15 billion agreement to acquire fintech firm Brex, including its stablecoin payments technology.

The US bank said the transaction will be completed through a combination of cash and stock and is expected to close in mid-2026.

“Since our founding, we set out to build a payments company at the frontier of the technology revolution,”

Richard Fairbank said.

“Acquiring Brex accelerates this journey, especially in the business payments marketplace,”

Fairbank added.

The acquisition is among the largest fintech deals in recent years as traditional financial institutions expand into crypto-related services.

Brex announced in October that it would support native stablecoin payments, beginning with USDC.

Brex founder and CEO Pedro Franceschi said he would continue to lead the company following the acquisition.

“We will be able to move faster, invest more deeply, and bring more powerful capabilities to businesses than either of us could alone,”

Franceschi said.