TechCrunch: Stripe acquires stablecoin payments company Bridge for $1.1 billion

If confirmed, the acquisition deal between Stripe and Bridge will set a new record for the value of a merger and acquisition transaction in the cryptocurrency industry. TechCrunch: Stripe acquires stablecoin payment company Bridge for $1.1 billion According to technology news site TechCrunch, the electronic payment giant Stripe has reached an agreement to acquire the cryptocurrency startup Bridge for a value of up to $1.1 billion. Bridge is a cryptocurrency startup that specializes in developing software to help businesses accept stablecoin payments. In August 2024, Bridge organized a $40 million fundraising round at a valuation of $200 million, meaning the company's value has nearly sextupled in just 2 months. This deal is the largest acquisition Stripe has ever made, as well as a new record for the value of a merger and acquisition transaction in the cryptocurrency industry. Last week, Stripe officially resumed accepting cryptocurrency payments using the USDC stablecoin through the Ethereum, Solana and Polygon networks, after a 6-year hiatus. The company also collaborated with the leading US crypto exchange Coinbase in June to integrate the Base layer-2 solution into its payment services. In recent times, there have been constant rumors about major financial institutions in Western countries "sounding out" the stablecoin sector, including BlackRock, BBVA, Revolut, Robinhood, State Street, and PayPal with PYUSD.