Payments giant Stripe has completed a $1.1 billion acquisition of Bridge, a stablecoin platform, according to reports by TechCrunch founder Michael Arrington. This deal marks one of the largest acquisitions in the crypto industry, surpassing recent deals such as CoinShares’ $530 million acquisition of Valkyrie Funds and Robinhood’s $200 million purchase of Bitstamp.

Bridge’s Role in the Deal

Bridge, founded in 2022 by Coinbase alumni, provides a platform for businesses to accept stablecoins, including USD Coin (USDC) and Tether (USDT), as payments. The company aims to rival major financial networks like Swift and Visa, with annual payment volumes reaching $5 billion since its launch. The company has worked with prominent clients, including SpaceX.

Stripe’s Expanding Crypto Ambitions

This acquisition signals Stripe’s growing interest in the crypto space. Earlier this month, Stripe launched "Pay with Crypto," allowing businesses to accept USDC payments across 150 countries. Stripe has also integrated with the Avalanche Network and Coinbase’s Layer 2 Base network to expand its crypto services, including enabling digital asset purchases through Apple Pay and credit cards. The acquisition is expected to strengthen Stripe’s position in stablecoin payments, but the exact integration plan for Bridge remains unclear. This move represents another step in Stripe’s strategy to re-enter the crypto space after halting Bitcoin support in 2018 due to transaction speed and fee issues.
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