Stripe is in talks to acquire stablecoin platform Bridge for a whopping $1 billion, according to Forbes. The talks are reportedly in advanced stages, although nothing has been finalized.
Bridge, co-founded by Coinbase alumni Zach Abrams and Sean Yu, has built an API that helps companies accept stablecoins. The pair raised $58 million from investors like Index Ventures and Sequoia Capital, according to PitchBook. If the deal with Stripe goes through, it would be a huge jump from Bridge’s $200 million valuation, as well as being Stripe’s largest acquisition to date.
Stripe has made it clear that crypto is a huge priority for the company. In July, it enabled crypto purchases in the EU, and earlier this month, Stripe announced a Pay with Crypto feature that lets merchants accept stablecoins.
Source: Techcrunch
