Stripe in Advanced Talks To Acquire Bridge, a Stablecoin Fintech Firm
Funds firm Stripe is reportedly in superior discussions to accumulate Bridge, a Texas-based fintech agency targeted on stablecoin integration.
Funds firm Stripe is reportedly in superior discussions to accumulate Bridge, a Texas-based fintech agency targeted on stablecoin integration.
Bridge, co-founded by former executives from Sq. and Coinbase, focuses on enabling cross-border funds and international forex exchanges utilizing stablecoins like USDC and USDT.
The agency has established partnerships, together with one with Bitso, to facilitate business-to-business cross-border funds in Latin America. In August, Bridge introduced a profitable funding spherical, elevating a complete of $58 million from notable traders, together with Sequoia and Ribbit.
Stripe has a historical past within the crypto house, having been one of many first main fee processors to help Bitcoin transactions in 2014. Nevertheless, the corporate ceased this characteristic in 2018 as a consequence of declining demand, attributed to excessive charges and worth volatility.
The corporate’s renewed deal with cryptocurrency providers aligns with its current strikes to develop crypto integrations. In July, Stripe’s EU division enabled on-line distributors so as to add widgets for buying varied crypto, together with BTC, ETH and SOL.
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