- Stripe has accomplished its $1.1 billion acquisition of stablecoin firm Bridge.
- The corporate re-established help for cryptocurrency funds in April and added USDC to Ethereum, Solana, and Polygon in October 2024.
Stripe has accomplished its acquisition of Bridge, a stablecoin platform that helps companies and companies settle for funds in stablecoins.
The deal between Stripe and Bridge is valued at $1.1 billion, making it the biggest ever for a fintech firm, in response to TechCrunch founder Michael Arrington. The TechCrunch founder shared the information by way of X.
Stripe's acquisition of Bridge comes after stories of deal talks surfaced final week. This additionally comes after Stripe, which has not too long ago grow to be a family identify within the cryptocurrency area with latest offers like TaxJar and Lemon Squeezy, introduced its newest cryptocurrency-focused options.
The “Pay with Crypto” function built-in with Paxos permits companies so as to add stablecoins to their checkout methods. This can be a step that might additionally result in a number of different platforms partnering as much as supply stablecoin funds to extra companies.
Stripe companions with Paxos to launch stablecoin fee platform https://t.co/4Zp4Ya4JmN
— CoinJournal (@CoinJournal) October 15, 2024
Stripe beforehand suspended cryptocurrency funds in 2018 and re-entered in April 2024. Stripe additionally partnered with Coinbase to combine its layer 2 community, Base, in June. In July, the fintech expanded its crypto merchandise to the European Union.
In its newest milestone, Stripe reintroduced USDC cryptocurrency funds on Ethereum, Solana, and Polygon.
In the meantime, entrepreneurs Sean Yu and Zack Abrams introduced Bridge in 2022. The platform has raised $58 million from enterprise capital buyers and secured $40 million throughout a Sequence A spherical at a valuation of $200 million.
