Stripe, the payment processing giant, has acquired stablecoin platform Bridge in a deal worth $1.1 billion, according to TechCrunch founder Michael Arrington. The deal was reportedly in “advanced stages” as of at least Oct. 17, but representatives from both entities declined to comment.

The acquisition would be the largest deal to date for Stripe, which was valued at $70 billion in July. Stripe and Bridge did not immediately respond to requests for comment.

This development comes just six months after Stripe announced it would begin supporting global stablecoin payments. What do you think of Stripe’s move? We welcome your comments.