Stripe has closed on its $1.1 billion purchase of stablecoin platform Bridge — marking the cost large’s largest acquisition to date 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 traders comparable to Index Ventures and Sequoia Capital, in accordance with PitchBook. It was valued at $200 million when it raised a $40 million Collection A in 2024.
With this acquisition, Stripe is clearly betting massive on crypto.
In a February 5 post on X, Stripe co-founder and CEO Patrick Collison wrote: “We anticipated Bridge (go comply with them at @stablecoin) to develop in a short time, and we’re nonetheless shocked at simply how quickly adoption is exploding. Within the coming years, everybody programmatically transferring cash will probably 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.
