• bitcoinBitcoin (BTC) $ 42,977.00 0.18%
  • ethereumEthereum (ETH) $ 2,365.53 1.12%
  • tetherTether (USDT) $ 1.00 0.2%
  • bnbBNB (BNB) $ 302.66 0.19%
  • solanaSolana (SOL) $ 95.44 1.28%
  • xrpXRP (XRP) $ 0.501444 0.1%
  • usd-coinUSDC (USDC) $ 0.996294 0.34%
  • staked-etherLido Staked Ether (STETH) $ 2,367.26 1.4%
  • cardanoCardano (ADA) $ 0.481226 2.68%
  • avalanche-2Avalanche (AVAX) $ 34.37 1.19%
  • bitcoinBitcoin (BTC) $ 42,977.00 0.18%
    ethereumEthereum (ETH) $ 2,365.53 1.12%
    tetherTether (USDT) $ 1.00 0.2%
    bnbBNB (BNB) $ 302.66 0.19%
    solanaSolana (SOL) $ 95.44 1.28%
    xrpXRP (XRP) $ 0.501444 0.1%
    usd-coinUSDC (USDC) $ 0.996294 0.34%
    staked-etherLido Staked Ether (STETH) $ 2,367.26 1.4%
    cardanoCardano (ADA) $ 0.481226 2.68%
    avalanche-2Avalanche (AVAX) $ 34.37 1.19%
image-alt-1BTC Dominance: 58.93%
image-alt-2 ETH Dominance: 12.89%
image-alt-3 BTC/ETH Ratio: 26.62%
image-alt-4 Total Market Cap 24h: $2.51T
image-alt-5Volume 24h: $144.96B
image-alt-6 ETH Gas Price: 16 Gwei
 

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TechCrunch founder says Stripe has acquired Bridge for $1.1B

The deal would mark one of crypto’s largest acquisitions, though neither company has publicly confirmed the...

Payment processing giant Stripe has reportedly acquired stablecoin platform Bridge in a $1.1 billion deal, according to TechCrunch founder Michael Arrington.

According to reports, the deal had been in “advanced stages,” though representatives from both organizations have yet to address the reports.

“This deal is done. $1.1b,” Arrington wrote on October 20 on an X platform post. Arrington did not elaborate any further.

The acquisition would be the largest to date for Stripe, which is based in San Francisco and Dublin and was valued at $70 billion in July. It would also fall into one of crypto’s largest acquisitions in history.



Bridge did not immediately respond to a request for comment. Stripe responded to Cointelegraph but did not provide a statement on record.

Stripe is a payment processing platform that allows businesses to accept credit and debit cards or other payments online.

In March, it reported it had passed the $1 trillion milestone for total payment volume in 2023, with the output of businesses using Stripe amounting to around 1% of global gross domestic product (GDP).

The reported deal comes just six months after its co-founder John Collison announced the company would begin supporting global stablecoin payments “this summer.”

ANOTHER MUST-READ: Tesla unveils 20 Cybercabs at the We, Robot event, announcing they’ll be available for under $30,000

It also comes less than two weeks after Stripe introduced stablecoin payments on its main payments user interface by integrating Circle USD (USDC) stablecoin.

Meanwhile, Bridge is a stablecoin-based payments network founded by two former Coinbase executives — Zach Abrams and Sean Yu — in 2022 to compete with the SWIFT network and credit cards.

Abrams was the Head of Consumer at Coinbase and was the founder of Evenly, a P2P payments company that was eventually acquired by Square.

Yu held engineering roles at Coinbase, Square, Doordash, and Airbnb.

Bridge allows businesses to create, store, send, and accept stablecoins, which some have referred to as the Web3 answer to Stripe. This year, the firm received $58 million in funding from Sequoia, Ribbit, Index, and other investors.

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