PANews reported on August 30 that according to The Block, Bridge, a Web3 payment company founded by former Coinbase and Square employees, has completed a $58 million financing, with participation from Sequoia Capital, Ribbit, Index and Haun Ventures. Bridge is building a stablecoin-based payment platform that provides services such as cross-border payments and foreign currency exchange. It has partnered with Bitso to conduct stablecoin-based B2B cross-border payments in Latin America. Data from The Block showed that as of August 28, the total supply of stablecoins reached 176.6 million. Among them, Tether's USDT accounts for 70.7% of the total stablecoin supply, while Circle's USDC accounts for 20.6%.