Stripe Acquires Stablecoin Payment Platform Bridge For $1.1 Billion

According to PANews, payment company Stripe has acquired stablecoin payment platform Bridge for $1.1 billion, marking the largest acquisition in the cryptocurrency industry to date. Bridge, which previously raised $58 million in funding and was valued at $200 million, was founded by Sean Yu and Zach Abrams. The platform provides software tools for businesses to accept stablecoin payments. This acquisition is also the largest transaction in Stripe's history, highlighting the company's expansion into the crypto payment sector. Previously, Stripe had resumed the use of USDC for crypto payments in the United States and integrated with Coinbase's Base Layer 2 network.