TechCrunch founder Michael Arrington has introduced that Stripe, a funds processing agency, has purchased the Bridge stablecoin platform for $1.1 billion.
Arrington shared this information through a submit on X on October 20, stating, “This deal is finished. $1.1b.”
As of now, representatives from each organizations have remained silent relating to the alleged acquisition.
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If confirmed, this acquisition can be the most important in Stripe’s historical past and one of many greatest within the cryptocurrency trade.
Bridge, established in 2022 by former Coinbase
$1.49B
Stripe is a worldwide chief in on-line fee processing, permitting companies to simply accept numerous fee strategies, together with credit score and debit playing cards. The corporate had introduced six months in the past—via co-founder John Collison—plans to help worldwide stablecoin funds.
This rumored acquisition displays the intensifying competitors amongst fee platforms to innovate and incorporate rising digital belongings into their providers. By integrating Bridge’s stablecoin capabilities, Stripe might improve its place in digital funds, providing options that hyperlink conventional and decentralized finance.
In different information, Ripple is getting ready to launch its personal USD-pegged stablecoin, RLUSD.
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