Stripe acquired Bridge for $1.1 billion, its largest acquisition to date.
Bridge’s tools support stablecoin adoption in global finance.
Stripe has acquired stablecoin platform Bridge in a landmark deal valued at $1.1 billion. TechCrunch founder Michael Arrington confirmed the news on X, making it Stripe’s largest acquisition ever. The deal also stands as the biggest acquisition in the history of the cryptocurrency industry.
Bridge provides software that allows businesses to accept payments in stablecoins. Founded by Sean Yu and Zach Abrams, the platform raised $58 million from investors. Before the acquisition, Bridge was valued at $200 million, making the $1.1 billion purchase a significant leap.
This deal is done. $1.1b https://t.co/J7ppK4uHw0
— Michael Arrington (@arrington) October 20, 2024
Earlier this month, the company reinstated crypto payments for U.S. businesses. This move enabled the use of USDC on Ethereum, Solana, and Polygon. The acquisition of Bridge signals Stripe’s commitment to expanding its presence in the crypto sector.
Additionally, Stripe partnered with Coinbase in June, integrating Coinbase’s Base Layer 2 network into its payment system. This partnership allowed customers to buy cryptocurrency through Coinbase Wallet using Stripe’s services.
Stripe’s Push into Stablecoins
Bridge’s platform supports businesses by providing tools to create, store, and accept stablecoins. This acquisition will likely accelerate the adoption of stablecoin payments in mainstream financial services. With stablecoins gaining traction, Stripe’s acquisition reflects the increasing intersection between traditional finance and digital currencies.
Stripe, valued at $70 billion in July, has been expanding its crypto offerings. The company processed over $1 trillion in payment volume in 2023, which accounts for 1% of global GDP. The acquisition could transform how businesses use stablecoin solutions.
Bridge’s platform will help Stripe offer more stablecoin-based services to its global customer base. Stripe’s move into the stablecoin space reflects a shift toward more innovative payment options in the fintech world. This deal represents a significant milestone in the digital payments landscape and points to the growing role of stablecoins in global finance.Highlighted Crypto News TodayBitcoin Teases $69K Briefly As Bull Run Establishes Its Dominance
