Payment processing company Stripe is reportedly in talks to acquire stablecoin platform Bridge, according to sources cited by Bloomberg.
It is worth noting that as of this writing, this agreement has not yet been finalized, and there is still a possibility that either party may withdraw from the negotiations. The potential acquisition coincides with Stripe’s renewed focus on digital assets after a six-year hiatus from offering cryptocurrency-related services.
Stripe’s renewed interest in cryptocurrencies
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 also 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.
According to Cointelegraph.com, these developments are especially important for those involved in money transfer services. Stablecoins allow senders and recipients to avoid high fees and delays, making it easier and more affordable to send small amounts across borders.
In a related development, Paxos, the publisher of the Pax stablecoin, has launched a new stablecoin payments platform aimed at payment service providers. Unlike solutions for individuals and small businesses, the platform allows payment processors to integrate the Paxos API into their systems. Stripe announced as the first payment processor to incorporate Paxos’ API into its operations.
