Capital One to acquire stablecoin-friendly fintech Brex for $5.15B

U.S. financial firm Capital One has agreed to acquire San Francisco-based fintech company Brex for $5.15 billion, Decrypt reported. The deal is a strategic move by Capital One to expand its corporate payments and expense management business and strengthen its competitiveness against software-based financial platforms. Last September, Brex announced plans to launch a native, USDC-based stablecoin payment feature.