Key Takeaways
- Stripe is in advanced discussions to acquire Bridge, a platform specializing in stablecoin transactions.
- The deal could significantly enhance Stripe’s capabilities in the stablecoin sector.
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Stripe, the privately-owned payments giant, is in discussion to seal a deal to acquire Bridge, a stablecoin payment platform founded by Coinbase alumnus Sean Yu, Bloomberg reported Wednesday.
Sources familiar with the matter indicate that discussions are in advanced stages, though no agreement has been finalized. Both parties might still withdraw from the negotiations.
Bridge, based in San Antonio, Texas, specializes in enabling businesses to manage stablecoins like USDT and USDC. It aims to build a payment network that challenges traditional systems.
Bridge’s list of clients and partners includes some high-profile names such as SpaceX, Stellar, and Stripe. The company recently secured $58 million in funding from prominent investors, including Sequoia, Ribbit, and Index.
If finalized, the acquisition could enhance Stripe’s recent re-entry into the stablecoin payment sector.
The company made a comeback to the crypto market in 2022, starting to enable USDC payouts on Polygon, with Twitter as its initial customer. Earlier this year, it greenlit USDC stablecoin payments on the Solana, Ethereum, and Polygon networks.
Stripe has recently joined Paxos’ stablecoin network, becoming the first payment service provider (PSP) to integrate Paxos’ new enterprise-grade infrastructure…
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