Capital One acquires Brex for $5.15 billion, traditional major banks officially enter stablecoin payments

Traditional finance and crypto payments are converging. US financial giant Capital One announced the acquisition of fintech company Brex for $5.15 billion in cash and stock. This deal not only marks Brex’s transition from startup unicorn funding stage into the mainstream banking system but more importantly, it brings Brex’s native stablecoin payment feature from the lab to millions of business clients. This is a clear vote of confidence from the traditional banking system on the value of stablecoin payment applications.

Key Points of the Transaction

Why Brex is Worth $5.15 Billion

Founded in 2017, Brex primarily offers corporate credit cards, cash management tools, and other financial products to startups and large enterprises. The company manages approximately $1.3 billion in deposits (through partner banks) and has a mature customer base and technological capabilities.

More critically, in September 2025, Brex announced plans to launch a native stablecoin instant payment feature, aiming to become the first global corporate card platform supporting real-time balance payments using stablecoins. This plan has attracted companies like Figure, Solana, and Alchemy to join the waiting list, indicating genuine market demand for this product.

What This Deal Means for Stablecoin Payments

From startup experiment to mainstream application

Brex’s stablecoin payment feature has evolved from an innovative project of an independent fintech to an official business within the US mainstream banking system. Capital One, with millions of corporate clients and a complete financial infrastructure, signifies that stablecoin payments are no longer just a topic within the blockchain community but are truly entering the enterprise-level stage.

Shift in attitude among traditional financial institutions

This deal sends a clear signal: traditional large financial institutions no longer see stablecoin payments as a threat or gimmick but recognize their actual commercial value. Capital One’s willingness to pay $5.15 billion, with stablecoin payment capability as a key strategic asset, represents an official acknowledgment of this new payment technology by traditional finance.

Accelerating compliance and mainstream adoption

By integrating into a licensed bank’s business system, Brex’s stablecoin payment feature will gain a stronger compliance foundation. This could accelerate the adoption of stablecoin payments in the enterprise sector, as corporate clients will feel more confident with the backing of a licensed bank.

Market Reaction

Initial reports suggest that this deal has a positive impact on Capital One’s stock performance. Morgan Stanley raised Capital One’s target stock price from $280 to $300 after the announcement, rating it as “Overweight.” This reflects market recognition of this strategic acquisition.

Future Focus

The transaction is expected to close by mid-2026. Before that, key points to watch are whether Brex’s stablecoin payment feature can be launched as scheduled, and how Capital One will integrate this technology into its commercial banking operations. If integration proceeds smoothly, it could become a milestone for stablecoin payment applications.

Summary

This $5.15 billion acquisition essentially accelerates a trend: stablecoin payments are moving from blockchain experiments into mainstream finance. Capital One is not just acquiring a fintech company’s past but investing in the future of stablecoin payments. Through this deal, Brex’s stablecoin initiative gains strong execution power and a customer base, potentially ushering in a new phase for stablecoin payment development. This is a positive signal for the entire stablecoin ecosystem.