According to TechFlow, on October 17, Bloomberg reported, citing people familiar with the matter, that payment company Stripe Inc. is in advanced negotiations to acquire fintech platform Bridge. No final decision has been made yet and either party may still withdraw from the transaction.

It is reported that Bridge's platform is designed to allow enterprises to create, store, send and accept stablecoins such as Tether's USDT and Circle's UDSC. According to Fortune magazine in August this year, the startup has raised a total of US$58 million, with investors including Sequoia, Ribbit Capital, Index and Haun Ventures.

Sequoia led Bridge’s most recent $40 million Series A funding round, and at the time highlighted the market opportunity for stablecoins, which was created in part by initiatives by companies like Stripe. Neither party responded to requests for comment.