📣 Stripe Acquired Bridge in the Largest Crypto Deal to Date
posted 21 Oct 2024
Stripe, a payments services company, acquired the stablecoin platform Bridge for $1.1 billion, according to TechCrunch founder Michael Arrington’s post on X.
To date, this is the biggest crypto acquisition deal, and it’s also Stripe’s largest acquisition.
The news came just a few days after TechCrunch reported that the companies are in talks over the deal, though no final decision had been made. Now, it’s confirmed.
Bridge, founded by ex-Coinbase engineers David Roeser and Tyler Mincey, allows companies to accept stablecoin payments from more than 70 countries.
Launched in 2022, the platform raised $40 million in its last Series A funding round, bringing its total funding to $58 million. Investors include Sequoia, Ribbit Capital, Index, and Haun Ventures.
Earlier in October, Stripe reenabled crypto payments after halting them in 2018. Currently, U.S. businesses can use Stripe to accept stablecoins from 150 countries. Customers can pay in USDC via Ethereum, Solana, and Polygon blockchains, opening the door for businesses to engage with a wider global market.
The combination of Bridge’s stablecoin capabilities and Stripe’s global payment infrastructure could further push crypto payments into the mainstream, offering more flexibility for businesses and users alike.
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