- A New Player in the Stablecoin Market
- Key Partnerships and Projects
- Solving Global Money Movement Challenges
Bridge, a platform built by former Coinbase and Square employees, has emerged from stealth with $58M in funding.
A New Player in the Stablecoin Market
Bridge was created by former Coinbase and Square employees Zack Abrams and Sean Yu in April 2022. Abrams was head of product at Coinbase, while Yu was a software engineer at Square. The platform provides APIs for the orchestration and issuance of stablecoins, enabling any company to offer digital dollar-based services.
Key Partnerships and Projects
The company has already partnered with leading organizations worldwide to introduce various use cases of its platform. To launch payouts, the company collaborated with the US government, aid organizations, and creator platforms to disburse payments via stablecoins. Bridge also partnered with cryptocurrency exchange Bitso to support stablecoin-powered payments in the Latin American region.
Solving Global Money Movement Challenges
Bridge's foreign exchange (FX) feature allows global companies to repatriate funds, selling goods and services in Latin America and Africa and moving the money back to the US via stablecoins. The platform aims to tackle global money movement issues, enabling unbanked users to pay for foreign services like Netflix and reducing the costs associated with cross-border payments.
Bridge promises to revolutionize global money transfers with its platform, supported by leading venture capital firms.
Comments