Bernstein said the recently confirmed $1.1 billion acquisition of stablecoin payment platform Bridge by U.S. payment processing company Stripe is an important step in the expansion of public blockchains, particularly as a use case for international cross-border transactions. This proves that the importance and legitimacy of tablecoins is increasing.
“Stablecoins have become systemically important and are now the 18th largest holder of US Treasury assets alongside major sovereign holders,” Bernstein said in a note to Decrypt. said.
The integration of stablecoins into payment and fintech platforms such as Stripe and PayPal highlights their growing relevance. Token issuers that are pegged to fiat currencies often promote their tokens as cheaper and faster methods of cross-border payments, offering users wide access to USD-based savings and decentralized finance (DeFi) applications. provide access.
Bridge, which was acquired by Stripe, provides a software platform that allows businesses to integrate stablecoin payments without the complexity of managing blockchain infrastructure.
“This acquisition is a testament to the growth of stablecoins, with over $160 billion digitized on blockchain and over $1 trillion in monthly payments,” Bernstein added. “This agreement further highlights the growing demand for blockchain technology in global payments, especially as players like Stripe expand into the global payments space.”This space. ”
In an interview with Decrypt, Ilya Otichenko, principal analyst at CEX.IO, highlighted how this acquisition aligns with Stripe’s recent move into dollar-pegged tokens.
“Stripe’s acquisition of Bridge is the largest in the company’s history and a natural extension of the platform’s recent stablecoin efforts. Stripe has now established itself as a key player in stablecoin integration. “Otichenko said.
Otichenko also highlighted Stripe’s growing presence in the stablecoin market. He added, “Just a few weeks ago, Stripe integrated USDC payments and Paxos’ stablecoin platform into its main interface. This acquisition will either further strengthen Stripe’s support for third-party stablecoins or It could lead to the issuance of its own stablecoin.”
The acquisition follows Stripe’s broader efforts into cryptocurrency-related services. Earlier this year, Stripe launched fiat-to-crypto on-ramp integration with Avalanche Network and partnered with Coinbase to integrate layer 2 network Base into its payouts product.
Edited by Stacey Elliott.
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