Stripe Purchases Stablecoin Platform Bridge

Reading Time: < 1 minute

In a new deal, Stripe has purchased stablecoin platform Bridge for $1.1 billion, making it their largest acquisition to date.

Bridge, founded by Sean Yu and Zach Abrams, offers tools for businesses to accept payments in stablecoins and has previously been backed with $58 million in funding.

Stripe’s decision to acquire Bridge, which was valued at $200 million, marks a significant increase in their valuation.

This recent move aligns with Stripe’s reinstatement of crypto payments for US businesses and their partnership with Coinbase.

The partnership includes incorporating Coinbase’s Base Layer 2 network into Stripe’s crypto payment products, and allows Coinbase customers to purchase crypto within the Coinbase Wallet.