If completed, the acquisition would unite two of the biggest names in digital payments.

The timing is notable. PayPal, which owns Venmo, is restructuring to spin Venmo off as a stand-alone business unit — a move widely seen as laying the groundwork for a potential sale. Stripe has reportedly expressed interest in buying PayPal outright.

PayPal is pitching an AI-led turnaround, tying automation and restructuring to $1.5 billion in savings as it cuts jobs and works to modernize its tech stack.

PayPal may not be in talks to be acquired, sources have told Semafor, after a previous news report that Stripe was sniffing around.

Stripe might be looking to buy PayPal, or parts of it, per early reports.