- Stripe has accomplished its $1.1 billion acquisition of stablecoin Bridge.
- The corporate reinstated help 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 companies and companies settle for stablecoin funds.
In line with 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 experiences of deal negotiations surfaced final week. This additionally comes after Stripe, which has not too long ago elevated its visibility within the crypto area with latest offers similar to TaxJar and Lemon Squeezy, revealed its newest crypto-focused characteristic.
The “Pay with Crypto” characteristic, which integrates Paxos, permits companies so as to add stablecoins to their fee methods. It's a step that has additionally seen a number of different platforms companion to supply secure funds to extra companies.
Stripe companions with Paxos to launch stablecoin funds platform https://t.co/4Zp4Ya4JmN
– CoinJournal (@CoinJournal) October 15, 2024
Stripe beforehand discontinued crypto funds in 2018 earlier than returning 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 latest milestone noticed Stripe reintroduce 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, together with $40 million secured in a Collection A funding spherical for a valuation of $200 million.
