Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Stripe acquires stablecoin platform Bridge for $1.1 billion in crypto's largest acquisition: TechCrunch founder

Stripe acquires stablecoin platform Bridge for $1.1 billion in crypto's largest acquisition: TechCrunch founder

The BlockThe Block2024/10/19 16:00
By:The Block

Quick Take Payments company Stripe has acquired stablecoin platform Bridge in a $1.1 billion deal, according to TechCrunch founder Michael Arrington. Stripe’s largest acquisition to date, and the largest acquisition in the crypto industry’s history, Bridge had raised $58 million from investors and was previously valued at $200 million. Bridge offers software that helps businesses accept payments in stablecoins and signals an expansion of Stripe’s crypto adoption efforts.

Stripe acquires stablecoin platform Bridge for $1.1 billion in crypto's largest acquisition: TechCrunch founder image 0

Fintech company Stripe has finalized its largest acquisition to date, snapping up stablecoin platform Bridge in a deal valued at $1.1 billion, according to a post on X from TechCrunch founder Michael Arrington. 

Bridge, founded by entrepreneurs Sean Yu and Zach Abrams (no relation to this reporter), provides software tools that help companies accept payments in stablecoins. The founders had previously sold a Venmo competitor called Evenly to Block in 2013; Abrams is also a former senior Coinbase employee. 

Bridge had previously 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 price tag therefore represents a large jump from the company's prior valuation, and Stripe's largest acquisition in its corporate history. 

Stripe, which was last valued at $70 billion, reinstated crypto payments for US businesses via USDC on Ethereum, Solana and Polygon earlier this month, The Block previously reported . Stripe also inked a partnership with Coinbase in June which saw the startup incorporate Coinbase's Base Layer 2 network into its crypto payment products, while Coinbase pledged to add Stripe as a way for its customers to buy crypto within its Coinbase Wallet. 

The $1.1 billion purchase represents the crypto industry's largest acquisition deal to date. 


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like