150+ total transactions representing $37B+ in aggregate value — 11 tracked below spanning 2025–2026 · 2 industries
Exodus, a crypto wallet and exchange, acquires Baanx, a regulated embedded fintech platform. $175M transaction reflects strategic consolidation of wallet + embedded finance capabilities.
Independent Reserve, Australian exchange, expands through acquisition of IG Group's crypto operations, demonstrating consolidation in ANZ crypto trading infrastructure.
South Korea's leading internet platform Naver announces acquisition of Upbit, operated by Dunamu. Demonstrates traditional tech giants entering crypto through exchange acquisitions.
Paystand acquires Bitwage, a crypto employee and contractor payment platform. Reflects growing adoption of crypto for payment rails and global payroll.
Advisor to Caleb & Brown on acquisition by Australian exchange Swyftx. Largest acquisition targeting high-net-worth crypto investors. Transaction closed July 2025.
Hong Kong-based exchange OSL Group acquires Banxa, a leading fiat-to-crypto payments provider. Transaction valued at CAD $1.55/share, USD $62M. Demonstrates consolidation in regulated crypto infrastructure.
Exclusive financial advisor to Coinme, a U.S.-regulated crypto-as-a-service provider. Combined acquisition with Sequence ($250M total). One of the first examples of a protocol acquiring an operating regulated business.
Fireblocks, a digital asset platform, acquires TRES Finance, a crypto accounting and compliance platform. Demonstrates consolidation of crypto infrastructure and compliance tools.
Nakamoto Inc. announces definitive merger agreements to acquire BTC Inc and UTXO Management, building a diversified Bitcoin operating portfolio. February 2026 transaction.
Blockchain protocol Ripple acquires GTreasury, enabling Fortune 500 CFOs direct access to blockchain infrastructure. $1B transaction demonstrates protocols acquiring enterprise software to drive mainstream adoption.