TechCrunch founder Michael Arrington has announced that Stripe, a payments processing firm, has bought the Bridge stablecoin platform for $1.1 billion.
Arrington shared this news via a post on X on October 20, stating, “This deal is done. $1.1b.”
As of now, representatives from both organizations have remained silent regarding the alleged acquisition.
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If confirmed, this acquisition would be the largest in Stripe’s history and one of the biggest in the cryptocurrency industry.
Bridge, established in 2022 by former Coinbase
$1.39B
executives Zach Abrams and Sean Yu, is a network specializing in stablecoin transactions. Aiming to challenge traditional systems like SWIFT and major credit card companies, Bridge enables businesses to generate, hold, transfer, and accept stablecoins.
Stripe is a global leader in online payment processing, allowing businesses to accept various payment methods, including credit and debit cards. The company had announced six months ago—through co-founder John Collison—plans to support international stablecoin payments.
This rumored acquisition reflects the intensifying competition among payment platforms to innovate and incorporate emerging digital assets into their services. By integrating Bridge’s stablecoin capabilities, Stripe could enhance its position in digital payments, offering solutions that link traditional and decentralized finance.
In other news, Ripple is preparing to launch its own USD-pegged stablecoin, RLUSD.
Gode is a Web3 Market Analyst who researches the most important industry events and interprets how they affect the wider Web3 space. Her formal education in media culture & digital rhetoric allows her to employ a methodical approach to evaluating critical Web3 news data, including large-scale events and the wider social sentiment within the ecosystem.Gode is a mutilingual professional, having studied in multiple universities all across Europe. This allows her to have a one-of-a-kind opportunity to analyze Web3 social sentiments spanning different cultures and languages and, in turn, develop a much deeper understanding of how the Web3 space is growing within different communities. With the rest of her team, Gode works to identify crucial crypto news patterns and provide unbiased and data-driven information.Gode’s passions include working and communicating with people, and when she’s not researching Web3 news, she spends her time traveling and watching true crime documentaries.
