Stripe in $1.1B Acquisition Deal for Stablecoin Platform Bridge: Report
Looking to advance its cryptocurrency ambitions, payments processor Stripe has finalized a deal to buy stablecoin platform Bridge for $1.1 billion, according to a Sunday X post from TechCrunch founder Michael Arrington.
Bridge, which has raised $54 million in funding, was founded by Square and Coinbase alumni Zach Abrams and Sean Yu, and counts SpaceX and Coinbase (COIN) among its customers.
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The startup previously said it aspired to become the blockchain version of Stripe, operating a global system in which other developers could integrate.
Stripe, which enables companies to accept payments online or in-person, has this year been exploring extending its offering to cryptocurrency through Circle’s USDC stablecoin.
CoinDesk reached out to Stripe and Bridge for comment but had not received a response by press time.
Edited by Parikshit Mishra.
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