**News Flash: Bridge Raises $58M to Revolutionize Stablecoin Payments**

Bridge, a global stablecoin payment network co-founded by former Square and Coinbase execs Zach Abrams and Sean Yu, has secured $58 million in funding. Major investors include Sequoia, Ribbit, and Index. Bridge aims to challenge traditional payment systems like Swift and credit cards by offering faster and cheaper transactions.

High-profile clients like SpaceX use Bridge to handle multi-currency payments via stablecoins. The company also partners with crypto firms like Stellar and Strike to enhance their payment infrastructure.

Despite past setbacks, the stablecoin market remains robust, with a total market cap of $177.24 billion. PayPal recently entered the space with its own stablecoin, PYUSD, now surpassing $1 billion in market cap.