Stripe sealed a $1.1 billion deal with the Bridge platform. This is the largest acquisition for Stripe, reported TechCrunch founder Michael Arrington.
Deal Details
According to reports, the deal had been in advanced negotiations since October 17, with representatives from both companies not commenting on it.
Deal Context
For Stripe, valued at $70 billion in July, this will be its largest acquisition. Less than two weeks ago, Stripe introduced stablecoin payments on its platform by integrating Circle's USDC stablecoin.
About Stripe and Bridge
Stripe is a payment processing platform that allows a variety of online payments. Bridge is a stablecoin payment network founded by former Coinbase executives to compete with SWIFT. This year, Bridge raised $58 million from investors.
The deal between Stripe and Bridge highlights the growing importance of stablecoins in global payments and the company's drive for fintech innovation.