Capital One has agreed to acquire fintech Brex for $5.15 billion, a transaction that will bring Brex’s stablecoin-based payment infrastructure into one of the largest U.S. banking groups.
The deal, structured as a mix of stock and cash, is expected to close in mid-2026.
Richard Fairbank, Capital One’s founder and chief executive, said the acquisition aligns with the bank’s long-standing focus on payments technology.
“Since our founding, we’ve worked to build a payments company that adapts to major shifts in how money moves,” Fairbank said.
A fintech acquisition tied to crypto payments
The agreement follows Brex’s move into crypto-native payments late last year. In October 2025, the company became the first global corporate card provider to support native stablecoin transactions, launching with USDC for business payments and treasury use.
“Brex strengthens our position in business payments.”
Brex has positioned the product for companies that handle cross-border payments, contractor payouts, and supplier settlements, where traditional banking rails can introduce delays or additional costs.
Brex leadership to remain in place
Brex founder and CEO Pedro Franceschi said he will continue to lead the company after the acquisition closes. He framed the deal as a way to expand Brex’s reach within the U.S. business market while maintaining its product direction.
According to Franceschi, integration with Capital One will allow Brex to extend stablecoin payments into areas such as payroll processing, vendor payments, and international transfers, building on tools already used by startups and mid-sized businesses.
Stablecoins gain ground in traditional finance
Stablecoins have moved closer to the center of U.S. financial policy following the passage of the GENIUS Act in July 2025, which established a federal framework for token issuance and reserves.
Since the law was enacted, the stablecoin market has grown 18.6% to a record $314 billion in total capitalization, according to CoinGecko. USDC and USDT account for most transaction activity, particularly in payments and settlement rather than trading.
Matvii Diadkov
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