Stripe Nears $1.1 Billion Acquisition of Stablecoin Platform Bridge, Eyeing Crypto Expansion

• Stripe is in talks to acquire Bridge, a stablecoin payment platform, for $1.1 billion in its largest acquisition to date.
• Bridge’s founders, both Coinbase alumni, raised $58 million before the potential $1.1 billion acquisition by Stripe.
• The deal would represent the largest crypto acquisition yet, highlighting the rising demand for stablecoin payment solutions.

Fintech company Stripe is nearing its largest acquisition yet, with advanced talks underway to acquire stablecoin platform Bridge for $1.1 billion. Bridge, co-founded by Coinbase alumni Zach Abrams and Sean Yu, provides an API designed to help businesses accept payments in stablecoins. Although the deal is not finalized, reports from Forbes suggest the agreement could be a defining moment for Stripe as it expands its presence in the crypto industry.

Bridge’s Rise in the Crypto Payments Space

Bridge has already raised $58 million from investors like Index Ventures and Sequoia Capital, according to PitchBook. Notably, its founders, Sean Yu and Zach Abrams, previously sold the Venmo competitor Evenly to Block in 2013. 

Since then, Bridge has focused on creating software that enables companies to accept stablecoin payments, a significant market need as digital currencies become more integrated into everyday business operations.

The company’s $1.1 billion valuation, if the deal with Stripe goes through, represents a fivefold increase from its previous $200 million valuation. This sharp jump highlights the rising demand for stablecoin solutions, which are considered vital for businesses looking to explore the volatile crypto market.

Stripe’s Crypto Strategy

Stripe’s push into the crypto space has been noticeable. In July, the company enabled crypto purchases for European Union users and recently introduced a new feature, Pay with Crypto, which allows merchants to accept stablecoin payments. Moreover, earlier this month, Stripe reinstated crypto payments for U.S. businesses through USDC on Ethereum, Solana, and Polygon.

Stripe also partnered with Coinbase in June, incorporating Coinbase’s Base Layer 2 network into its crypto payment offerings. This partnership allows Coinbase customers to use Stripe for buying cryptocurrency within the Coinbase Wallet, further solidifying Stripe’s ambitions in the crypto sector.

Bridge Acquisition Could Break Industry Records

If completed, the acquisition would be the largest crypto-related deal to date, surpassing other acquisitions in the space. Bridge’s established reputation and Stripe’s focus on expanding crypto services make this deal particularly noteworthy. The acquisition would also mark Stripe’s most substantial purchase in its history, aligning with its goal to integrate more crypto-based solutions into its payment products.