Payments giant Stripe is in advanced discussions to acquire the San Antonio-based stablecoin platform Bridge for $1 billion, according to reports by Bloomberg and Forbes. Founded by former Coinbase employees Zach Abrams and Sean Yu, Bridge specializes in enabling businesses to create, store, and transact with stablecoins like Tether’s USDT and Circle’s USDC, having raised $58 million from prominent investors including Sequoia and Index Ventures. This potential acquisition comes as Stripe seeks to enhance its offerings in the rapidly growing stablecoin market, having recently reintroduced the ability for U.S. merchants to accept crypto payments after a six-year hiatus. While no official announcement has been made yet, the deal would mark a significant expansion of Stripe’s capabilities in digital assets.
Stripe Doubles Down on Stablecoin Market, Reportedly in Advanced Talks to Acquire Bridge for $1 Billion
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
