- Stripe has closed its acquisition of stablecoin agency Bridge for $1.1 billion.
- The corporate resumed help for crypto funds in April and added USDC to Ethereum, Solana and Polygon in October 2024.
Stripe has accomplished the acquisition of Bridge, a stablecoin platform that helps firms and companies settle for funds in stablecoins.
In keeping with TechCrunch founder Michael Arrington, Stripe's deal for Bridge is value $1.1 billion and is the fintech firm's largest up to now. The TechCrunch founder shared the information through X.
Stripe's acquisition of Bridge comes after studies of deal talks emerged final week. This additionally comes after Stripe, which has lately elevated its visibility within the crypto area with current offers like TaxJar and Lemon Squeezy, unveiled its newest crypto-focused characteristic.
The “Pay with Crypto” characteristic that Paxos integrates permits firms so as to add stablecoins to their money register methods. It's a transfer that has additionally seen a number of different platforms associate to deliver stablecoin funds to extra companies.
Stripe companions with Paxos to launch stablecoin funds platform https://t.co/4Zp4Ya4JmN
— CoinJournal (@CoinJournal) October 15, 2024
Stripe beforehand stopped crypto funds in 2018 earlier than returning once more in April 2024. Stripe additionally partnered with Coinbase to combine Base, a layer 2 community, in June. In July, the fintech expanded its crypto product to the European Union.
The most recent milestone noticed Stripe reintroducing crypto funds with USDC on Ethereum, Solana and Polygon.
In the meantime, entrepreneurs Sean Yu and Zach Abrams unveiled Bridge in 2022. The platform has raised $58 million from enterprise capitalists, with $40 million secured throughout a Collection A spherical at a $200 million valuation.
