In a significant development, payment processing giant Stripe is rumored to have acquired Bridge, a stablecoin platform, for a substantial $1.1 billion. This potential acquisition, if confirmed, would mark one of the largest deals in the cryptocurrency industry.
The news was shared by TechCrunch founder Michael Arrington, who reported that the deal is complete and valued at $1.1 billion. However, neither Stripe nor Bridge has officially confirmed the acquisition.
Bridge, founded by former Coinbase executives Zach Abrams and Sean Yu, aims to revolutionize payments by offering a stablecoin-based network that rivals traditional systems like SWIFT and credit cards. The company has already secured funding from notable investors, including Sequoia, Ribbit, and Index. Show Less
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