Stripe has closed on its $1.1 billion purchase of stablecoin platform Bridge – marking the fee big’s largest acquisition so far and tangible push into crypto.
Co-founded in 2022 by Coinbase and Sq. alumni Zach Abrams and Sean Yu, San Antonio, Texas-based Bridge constructed an API that helps firms settle for stablecoins. The pair raised $58 million from buyers similar to Index Ventures and Sequoia Capital, in response to PitchBook. It was valued at $200 million when it raised a $40 million Collection A in 2024.
With this acquisition, Stripe is clearly betting huge on crypto.
In a February 5 post on X, Stripe co-founder Patrick Collison wrote: “We anticipated Bridge (go comply with them at @stablecoin) to develop in a short time, and we’re however shocked at simply how quickly adoption is exploding. Within the coming years, everybody programmatically transferring cash will possible desire a stablecoin technique.”
Final July, Stripe enabled crypto purchases within the EU, and in October, the fintech introduced a Pay with Crypto characteristic that lets retailers settle for stablecoins.