Stripe’s Acquisition Talks with Bridge
Payment processor Stripe is reportedly in advanced negotiations to acquire Bridge, a stablecoin-focused fintech firm backed by Sequoia, Bloomberg reports. However, sources indicate that a final decision has not been reached, and both parties could still withdraw from the potential deal.Stripe’s Expanding Crypto Integration
This acquisition would further Stripe’s re-entry into the crypto sector. Originally pioneering crypto payments in 2014, Stripe paused these operations in 2018 due to high fees and slow transaction times. Recently, Stripe reintroduced crypto payments for U.S. businesses through Circle’s USDC on Ethereum, Solana, and Polygon. Stripe’s move suggests a renewed commitment to stablecoin solutions, and the Bridge acquisition could position the company as a key player in global stablecoin payments.Bridge’s Role in Stablecoin Infrastructure
Texas-based Bridge was co-founded by former executives from Square and Coinbase, with a focus on facilitating stablecoin transactions within the traditional financial system. The firm aims to streamline cross-border payments and forex exchanges using stablecoins like USDC and USDT. With support from investors like Sequoia and Ribbit, Bridge has raised $58 million to build its payment network.Read The Full Article On:The Block
