Stripe, a US-based payment processing company, has acquired Bridge, a fintech startup specializing in facilitating stablecoin payments, for $1.1 billion.
The acquisition was confirmed by TechCrunch founder Michael Arrington, but the companies have not yet made an official announcement as of this writing. The acquisition, valued at USD 1.1 billion, is the largest transaction ever recorded within the crypto sector. This exceeds other significant deals such as CoinShares’ $530 million acquisition of Valkyrie Funds and Robinhood’s $200 million acquisition of Bitstamp.
Confirmation of the deal comes shortly after Bloomberg reported that Stripe and Bridge were in advanced negotiations. We also reported on this and emphasized that either party could withdraw from the agreement. This uncertainty has now been resolved after TechCrunch’s founder confirmed the final agreement.
Bridge provides businesses with the ability to accept stablecoin payments from over 70 countries. The startup raised US$40 million in a Series A funding round, bringing total funding to US$58 million. Investors include prominent venture capital firms such as Sequoia, Ribbit Capital, Index, and Haun Ventures.
Stripe’s Expanding Involvement in Cryptocurrency
Earlier this year, Stripe officials announced that the company would return to stablecoin services. They noted that transactions involving stablecoins through Stripe are settled instantly on-chain and automatically converted to fiat. In June 2024, Stripe partnered with Coinbase to enable fiat-to-crypto on-ramps and off-ramps for users of both platforms. The partnership aimed to use stablecoins to offer faster payments and lower transaction fees to customers in over 150 countries.
In October 2024, Stripe expanded its cryptocurrency offering by integrating Circle’s U.S. dollar stablecoin (USDC) into its main payments interface. The integration quickly attracted interest, with users from over 70 countries conducting stablecoin transactions from day one. This reflects the growing demand for tokenized fiat currencies, especially in cross-border payments, where fees and long settlement times have historically been a challenge.
While it remains unclear whether Bridge will continue to operate independently or be integrated into Stripe’s platform, the acquisition signals Stripe’s intention to strengthen its role in the stablecoin ecosystem. According to Financemagnates.com, other fintech companies such as Revolut and Robinhood are also considering stablecoins, reflecting growing interest in the sector, especially after the implementation of the European Union’s Markets in Cryptocurrency Regulation (MiCA). I’m doing it.
