Oct 21 (Reuters) – Stripe Inc. plans to acquire stablecoin infrastructure provider startup Bridge, the fintech company said in a tweet on Monday, without disclosing the deal value.
Forbes reported in a new tab last week that the deal was worth $1.1 billion, citing people familiar with the matter.
Stripe declined to comment on the deal amount when contacted by Reuters.
Founded in 2010 by billionaires John and Patrick Collison, Stripe was valued at $65 billion earlier this year, making it one of the most valuable privately held startups in the United States. .
Digital currencies have gained attention since the U.S. Securities and Exchange Commission allowed spot Bitcoin exchange-traded funds earlier this year, easing oversight and paving the way for cryptocurrencies to be accepted by major corporations. .
Last year, PayPal launched a USD stablecoin, becoming the first major financial technology company to embrace digital currencies for payments and transfers.
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Report by Jaiveer Singh Shekhwat in Bangalore. Edited by: Mohammed Safi Shamsi
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