-- The founder of Techcrunch has announced that Stripe has finalized a deal to buy Bridge.
-- The startup was valued at $1.1 billion.
-- According to media estimates, this is the largest deal in Stripe's history.

Fintech firm Stripe has finalized a deal to buy payment infrastructure provider #bridge for $1.1 billion, Michael Arrington, founder of Techcrunch portal, said.

This was first reported by #Forbes magazine on October 17, 2024. The note says that several sources named the amount of the agreement at around $1 billion.

At the time, the deal was allegedly in the discussion stage. One of the obstacles was the issue of compensating Bridge co-founders Zach Abrams and Sean Yu.

At the end of August 2024, the startup raised $58 million. At the time, the company's valuation was $200 million. If the deal is confirmed, it would mark a significant increase in the value of the project in an extremely short period of time.

Neither Bridge nor Stripe had commented on the agreement at the time of writing.

According to Forbes, the purchase of the startup could be the largest deal in history for #Stripe . Recall, the fintech firm suspended crypto transaction processing in 2018, but will return to the market in April 2024.

Bridge, in turn, is an infrastructure provider for accepting payments in #Stablecoins . Forbes suggested that buying this firm would allow Stripe to “go deeper into the sector.”

#UptoberBTC70K?