Stripe is reportedly in advanced discussions to acquire the stablecoin platform Bridge for a staggering $1 billion, as reported by Forbes. Although the deal has not yet been finalized, it marks a significant move in the fintech landscape.
Bridge, co-founded by former Coinbase executives Zach Abrams and Sean Yu, has developed an API that enables businesses to accept stablecoin payments. The company previously secured $58 million in funding from notable investors such as Index Ventures and Sequoia Capital, according to PitchBook. If the acquisition is completed, it would represent a remarkable increase from Bridge’s current valuation of $200 million and would become Stripe’s largest acquisition to date.
Stripe has emphasized its commitment to cryptocurrency, having recently expanded its offerings in Europe by enabling crypto purchases. Additionally, earlier this month, the company introduced a “Pay with Crypto” feature that allows merchants to accept stablecoins.
In a recent update, sources indicate that the deal has now been accepted by both parties, moving Stripe closer to finalizing this landmark acquisition.
