- Stripe has closed a $1.1 billion acquisition of stablecoin agency Bridge
- The corporate re-established assist for crypto funds in April, including USDC on Ethereum, Solana, and Polygon in October 2024
Stripe has accomplished the acquisition of Bridge, a stablecoin platform that helps corporations and companies settle for funds in stablecoins.
In response to TechCrunch founder Michael Arrington, Stripe’s deal for Bridge is valued at $1.1 billion and is the fintech firm’s largest up to now. The TechCrunch founder shared the information by way of X.
Stripe’s acquisition of Bridge comes after stories of talks for a deal surfaced final week. This additionally comes after Stripe, which has lately elevated its visibility within the crypto house with current offers equivalent to TaxJar and Lemon Squeezy, unveiled its newest crypto-focused function.
The ‘Pay with Crypto’ function, which integrates Paxos, permits corporations so as to add stablecoins to their checkout programs. It’s a step 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 had beforehand halted crypto funds in 2018 earlier than making a re-entry 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 newest milestone noticed Stripe re-introduce crypto funds with USDC on Ethereum, Solana, and Polygon.
In the meantime, entrepreneurs Sean Yu and Zach Abrams unveiled Bridge in 2022. The platform raised $58 million from enterprise capital traders, with $40 million secured throughout a Collection A spherical at a valuation of $200 million.