Bridge, which has raised $54 million in funding, previously said it aspired to become the blockchain version of Stripe, operating a global system in which other developers could integrate, according to Coindesk.
Looking to advance its cryptocurrency ambitions, payments processor Stripe has finalized a deal to buy stablecoin platform Bridge for $1.1 billion, according to a Sunday X post from TechCrunch founder Michael Arrington and later confirmed by Stripe and Bridge.
Patrick Collison, co-founder and CEO Stripe said: „Stablecoins are room-temperature superconductors for financial services. Thanks to stablecoins, businesses around the world will benefit from significant speed, coverage, and cost improvements in the coming years. Stripe is going to build the world’s best stablecoin infrastructure, and, to that end, we are delighted to welcome @stablecoin to @stripe.”
Zach Abrams, co-founder of Bridge said: „Our belief that stablecoins could be a new payment platform started coming true. Developers worldwide were dreaming up new stablecoin-enabled financial products and coming to Bridge to bring them to life. And each new use case was larger than all of those that came before it.
Today, we’re moving many billions in payment volume. Our business has grown >10x this yr. But more importantly, we’re now helping 100s of developers all around the world. And their products are giving millions of consumers and businesses more economic choice.
A lot has changed (and improved) over the past 18 months. But we’re still incredibly early. Stablecoins represent an entirely new payments platform. Realizing the potential of this platform will be a decades-long journey.”
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
