Stripe Acquires Stablecoin Platform Bridge for $1.1 Billion

Stripe, a global fintech giant, has finalized its largest acquisition to date, purchasing stablecoin platform Bridge in a deal valued at $1.1 billion, according to a post on X by TechCrunch founder Michael Arrington. This acquisition marks a significant expansion of Stripe’s presence in the crypto payments space.

Bridge, founded by entrepreneurs Sean Yu and Zach Abrams, specializes in providing software tools that enable companies to accept payments in stablecoins. The founders have a history of success, having previously sold their Venmo competitor Evenly to Block in 2013. Abrams also brings notable experience as a former senior employee at Coinbase.

Bridge’s Rapid Growth and Valuation Spike

Before this acquisition, Bridge had raised $58 million from investors, including a $40 million Series A round that valued the company at $200 million, according to Forbes. The $1.1 billion purchase price marks a considerable increase from Bridge’s previous valuation, reflecting both the company’s strong growth and Stripe’s strategic interest in expanding its crypto offerings.

The acquisition is now the largest deal in Stripe’s history, further solidifying its commitment to integrating cryptocurrency payment solutions into its platform.

Stripe’s Continued Crypto Expansion

Stripe, which was last valued at $70 billion, has been making significant moves in the crypto payments sector. Earlier this month, the company reinstated crypto payments for U.S. businesses using USDC on networks like Ethereum, Solana, and Polygon. Stripe also entered into a partnership with Coinbase in June, incorporating Coinbase’s Base Layer 2 network into its crypto payment products.

As part of the partnership, Coinbase has pledged to add Stripe as a payment method for purchasing crypto through the Coinbase Wallet. These developments highlight Stripe’s growing influence in the crypto ecosystem as it continues to align with major players like Coinbase.

Largest Acquisition in the Crypto Industry

The $1.1 billion purchase of Bridge represents the largest acquisition in the crypto industry to date. With this acquisition, Stripe is positioning itself as a dominant force in the stablecoin and crypto payment markets, further enhancing its ability to offer cutting-edge financial tools to businesses worldwide.

The acquisition of Bridge will likely accelerate Stripe’s efforts to provide seamless crypto payment solutions, paving the way for more businesses to integrate stablecoins into their payment infrastructure.

Stripe’s acquisition of Bridge for $1.1 billion is a bold move that underscores the growing importance of stablecoins and crypto payments in the financial landscape. As Stripe continues to expand its crypto offerings, the company is positioning itself as a key player in the future of digital payments, setting the stage for further innovation in the industry.