Global payments platform Stripe is reportedly in talks to acquire Bridge, a company that facilitates transactions involving stablecoins, Bloomberg reports. This potential deal means Stripe will move deeper into digital currencies and blockchain technology.
As noted by Bloomberg, discussions between Stripe and Bridge are ongoing, but no final agreement has been reached. Bridge allows businesses to create, store, send, and accept stablecoins such as Tether’s USDT and Circle’s USDC through its platform.
Founded less than two years ago by Zack Abrams and Sean Yu, Bridge has secured $58 million in funding from investors including Sequoia Capital, Rivit Capital, Index Ventures, and Haun Ventures. The company’s platform provides an API that allows companies to integrate stablecoin functionality without having to deal with the complexity of the underlying blockchain.
Stripe, founded by husband and wife team Patrick and John Collison, recently renewed its involvement in cryptocurrencies by allowing US merchants to accept payments in USDC. The move ends a pause in native processing of digital tokens and reflects the company’s renewed interest in crypto-based payment solutions.
The acquisition of Bridge strengthens Stripe’s capabilities in the stablecoin space and aligns with the company’s objective to facilitate faster and more efficient global transactions.
Other financial institutions are also exploring stablecoin opportunities. Visa announced a platform for banks to issue fiat-backed tokens, and companies like Revolut are rumored to be considering launching their own stablecoins.
Bridge processes over $5 billion in payment volume annually, and its customers include SpaceX, Coinbase, Stellar, Strike, and more. The company positions itself as a catalyst for stablecoin integration, providing solutions that simplify global capital movement for both crypto-native and traditional companies.
Stripe is considered a potential candidate for an initial public offering, but the company’s founders have indicated they have no immediate plans to go public. Earlier this year, Stripe and multiple investors agreed to buy back more than $1 billion in stock from employees, valuing the company at $65 billion, down from a peak of nearly $100 billion in 2021.
The potential acquisition signals a strategic move by Stripe to focus on expanding its payment services, including stablecoins, and position the company at the forefront of Web 2.0 companies in the digital payments space.
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