2024-10-21
Stripe is a software company that
provides online payment processing solutions for businesses.
Stripe facilitates the acceptance of
online payments by processing various forms of payment, including credit and
debit cards, mobile wallets (like Apple Pay and Google Pay), ACH bank
transfers, and even cryptocurrencies.
Stripe, the global payments giant, is
reportedly in advanced discussions to acquire Bridge, a fintech startup
specializing in stablecoins, for an estimated $1 billion, according to sources
from Forbes and Techcrunch.
This would mark Stripe's largest
acquisition to date and signal a major step in expanding its presence in the
cryptocurrency space.
Bridge, co-founded by former Coinbase
employees Zach Abrams and Sean Yu, offers an API that enables businesses to
accept stablecoin payments.
The startup previously raised $58
million from investors such as Index Ventures and Sequoia Capital and had a
valuation of $200 million.
This move aligns with Stripe’s growing
focus on cryptocurrency. In recent months, the company launched crypto purchase
services in the European Union and introduced a "Pay with Crypto"
feature, allowing merchants to accept stablecoin payments. By acquiring Bridge,
Stripe aims to further solidify its foothold in the cryptocurrency payment.
