Stripe in Talks to Acquire Crypto Startup Bridge for $1 Billion
Stripe is in talks to acquire crypto startup Bridge for $1 billion, marking its largest acquisition to date. The move strengthens Stripe's stablecoin payment capabilities as it pushes further into the digital assets space.
In a bold move into the world of stablecoins, Stripe is in advanced discussions to acquire crypto startup Bridge for $1 billion. If finalized, this would be Stripe’s largest acquisition to date, marking its continued push into digital payments.
Bridge, co-founded by Zach Abrams and Sean Yu, provides infrastructure for businesses to accept cross-border payments via stablecoins, such as USDC and Tether. The startup has already processed over $5 billion in annual payments and counts high-profile clients like SpaceX, Coinbase, and the U.S. Treasury.
This deal is done. $1.1b https://t.co/J7ppK4uHw0
— Michael Arrington 🏴☠️ (@arrington) October 20, 2024
Stripe has been increasingly focused on crypto, having recently relaunched crypto payments and introduced a new feature enabling stablecoin transactions. The potential acquisition of Bridge would bolster Stripe’s crypto capabilities, helping the fintech giant expand its reach into the rapidly growing digital assets space.
While the deal is not yet final, regulatory concerns and employee compensation are still being negotiated. However, this acquisition could signal Stripe’s intent to dominate the stablecoin market ahead of wider crypto adoption.