Stripe in talks to buy stablecoin platform Bridge

According to anonymous sources familiar with the deal, Stripe—a payments processing company—is in talks to acquire stablecoin platform Bridge.

According to Bloomberg, the deal has not been finalized and both sides can still withdraw without signing an agreement.

The potential acquisition of Bridge comes as Stripe plans to re-enter the digital asset space after a six-year hiatus from offering cryptocurrency payments.

Stripe Makes Move Into Cryptocurrency

Earlier this year, co-founder John Collison announced that Stripe would offer stablecoin services for the first time in six years. Collison explained at the time that stablecoin transactions through Stripe “are processed instantly on-chain and automatically converted to fiat.”

Stripe, Payments, Mobile Payments, Stablecoin

Collison announced Stripe's return to crypto during Stripe's Sessions 2024 event. Source John Collison

In June 2024, Stripe and Coinbase partnered to create fiat-to-crypto and back-to-back bridges for customers of both platforms. The partnership brings near-instantaneous processing times and significantly reduced transaction costs via stablecoins to customers in over 150 countries.

On October 9, Stripe introduced stablecoin payments on its main user interface through an integration with Circle’s stablecoin US Dollar (USDC). Following the USDC integration, users from over 70 countries participated in stablecoin transactions on the first day alone—demonstrating the growing global demand for tokenized fiat equivalents.

This is especially important for those involved in cross-border transactions, which often have significant transaction fees and processing times that can take days. More specifically, those sending and receiving remittances can avoid high fees, which reduce the amount of money sent to loved ones and make small remittances difficult to send.

Days after USDC integration went live, Paxos — the company behind the Pax Dollar (USDP) stablecoin — has launched a new stablecoin payments platform.

The new platform will focus on providing stablecoin services to payment providers who want to integrate Paxos' application programming interface (API) into their systems, rather than serving individuals or small businesses.

In the announcement, Paxos revealed that Stripe has become the first payment processor to integrate Paxos' API into its operations.

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