Stripe, a major player in the FinTech space, has reportedly completed its largest acquisition to date, purchasing stablecoin-based payments network Bridge for $1.1 billion. Former TechCrunch editor Michael Arrington confirmed the acquisition in a post on the social media platform X on October 20. Neither Stripe nor Bridge has yet provided an official comment on the transaction.
Stripe is a global financial technology company that provides a comprehensive platform for businesses to accept and manage online payments. Acting as an intermediary between customers and businesses, Stripe securely processes transactions, transferring funds from the customer’s payment method—whether it’s a credit card, debit card, or digital wallet—directly to the business’s account. Stripe’s services are essential for online businesses, enabling them to easily handle payments across multiple channels. In addition to payment processing, Stripe offers a suite of tools, including fraud prevention, invoicing, subscription management, and APIs that allow businesses to build customized payment solutions, making it a versatile platform for companies of all sizes.
Bridge was founded by Zach Abrams and Sean Yu, former executives from Coinbase and Square. Launched in 2022, Bridge is designed to challenge traditional payment systems like SWIFT and credit cards by offering businesses tools to create, manage, and process payments using stablecoins such as USDC and USDT.
The platform aims to streamline global financial transactions by integrating stablecoins into business operations, providing faster, more cost-efficient payment solutions. Bridge has attracted high-profile clients like SpaceX and Stellar and secured $58 million in funding earlier this year from investors such as Sequoia, Ribbit, and Index Ventures. Its infrastructure supports cross-border payments and aims to expand stablecoin usage in both business-to-business (B2B) and consumer markets.
This deal represents a major move for Stripe, which was valued at $70 billion in July and processes about 1% of global gross domestic product. In March, Stripe passed $1 trillion in payment volume for the year. The acquisition also comes shortly after Stripe introduced stablecoin payments using Circle’s USDC on its platform and partnered with Coinbase to integrate its Layer 2 network, Base, into Stripe’s crypto payment solutions.
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