Stripe is reportedly in advanced discussions to acquire the Bridge platform for $1 billion, as reported by Forbes. This acquisition marks a significant event in the fintech industry.
Deal details
Although the deal has not yet been finalized, both parties have reached an agreement. This acquisition might become the largest in Stripe's history.
About Bridge
Co-founded by former Coinbase executives Zach Abrams and Sean Yu, Bridge has developed an API to accept stablecoin payments. The company secured $58 million in funding from investors like Index Ventures and Sequoia Capital.
Significance for Stripe
Stripe has been emphasizing its crypto offerings, expanding in Europe and introducing a 'Pay with Crypto' feature. Acquiring Bridge is a significant step in this strategy.
The acquisition of Bridge could significantly bolster Stripe's position in the cryptocurrency payments market, underscoring its commitment to innovations in the fintech sector.