Stripe Acquires Stablecoin Platform Bridge for $1.1 Billion
This article comes to you with the generous support of Crypto-Games. Sign up now and get the rewards that await you at Crypto-Games with a 200% deposit bonus of up to 20,000 USDT!
A Game-Changing Deal for Crypto Payments
Stripe, the fintech giant, has finalized its largest acquisition yet, purchasing stablecoin platform Bridge for a whopping $1.1 billion. The deal, first revealed in a post by TechCrunch founder Michael Arrington on X, marks one of the most significant acquisitions in the crypto space.
Bridge, co-founded by Sean Yu and Zach Abrams, specializes in developing software that enables companies to accept payments in stablecoins, a rapidly growing area within the fintech industry.
The acquisition represents a massive leap from Bridge's previous valuation. The company had raised $58 million from investors, including a notable $40 million Series A round, which set its valuation at $200 million. Stripe’s decision to acquire Bridge at a figure more than five times that valuation underscores the increasing importance of stablecoins in global payment ecosystems.
Ready to ride the crypto trading journey? Join Gate.io, where the hottest coins and tokens are always up for grabs, with lightning-fast listings for the latest trends. Secure your spot and seize those crypto opportunities!
Bridge's co-founders are no strangers to high-profile deals either—Sean Yu and Zach Abrams had previously sold their Venmo competitor, Evenly, to Block in 2013. Abrams also boasts experience from his tenure at Coinbase, where he was a senior executive.
The acquisition comes at a pivotal moment for Stripe, which has been making significant moves in the crypto space. Earlier this month, the company reinstated crypto payments for U.S. businesses, enabling payments through USDC on Ethereum, Solana, and Polygon.
The Bridge acquisition also follows a partnership Stripe inked with Coinbase in June, which saw Coinbase integrating its Layer 2 network, Base, into Stripe’s crypto products. Stripe is now a payment option within Coinbase Wallet, further cementing its role in the crypto landscape.
This acquisition is also strategically aligned with Stripe's recent milestones. In March, the company reported crossing $1 trillion in total payment volume for 2023, representing around 1% of global GDP—a clear indication of Stripe’s vast reach.
Furthermore, the acquisition comes just six months after Stripe co-founder John Collison announced the company would expand its support for stablecoin payments globally, with the integration of Circle’s USDC stablecoin on Stripe’s main payment interface happening less than two weeks ago.
Need a smart way to trade new tokens? Let Telegram bots handle it—get started with Maestro now and stay ahead of the market!
For Stripe, the $1.1 billion deal is not only its largest acquisition but one of the most significant in crypto history. The San Francisco and Dublin-based fintech company, valued at $70 billion as of July, is doubling down on stablecoins as a core component of its payment infrastructure.
As stablecoins continue to play an increasingly central role in global financial transactions, Stripe’s acquisition of Bridge signals its determination to stay ahead of the curve in the rapidly evolving crypto payments landscape.
This article has been refined and enhanced by ChatGPT.
