Stripe is in talks to acquire Bridge, a San Antonio, Texas-based company, according to people familiar with the matter, Bloomberg reported. No final decision has been made and the two parties could still back out of the deal. A Stripe representative declined to comment.
The Bridge platform is designed to let businesses create, store, send and accept stablecoins such as Tetherâs USDT and Circleâs USDC. The startup has raised $58 million in funding.
The acquisition will boost Stripeâs recent expansion into the stablecoin space. Bridge was co-founded by Abrams and Sean Yu less than two years ago. The duoâs previous startup, Evenly, was acquired by Square.
Stripe has been considered a top fintech IPO candidate, but its founder has stressed that it has no plans to do so. Earlier this year, Stripe and several investors agreed to buy back more than $1 billion in employee shares.
