Payments Giant Stripe Acquires Stablecoin Firm Bridge for $1,100,000,000, According to TechCrunch Founder
TechCrunch founder Michael Arrington says payments giant Stripe has completed the acquisition of stablecoin startup Bridge. In an X post referencing a report about Stripe’s discussions to acquire Bridge, the tech publication executive says the $1.1 billion purchase of Bridge is a done deal. A Bloomberg report last week indicated that Stripe had been in talks to acquire the stablecoin firm, which offers a product that lets enterprises use stablecoins USDT and USDC to receive and send payments. The report indicated that Bridge had raised $58 million in startup funding from investors that included Sequoia and Haun Ventures, a crypto-focused venture capital firm founded three years ago by former Coinbase board member Katie Haun. Bridge raised $40 million in its most recent Sequoia-led Series A round. Stripe’s acquisition of Bridge comes a little over a week since the payments company announced it would offer global support for settlements by merchants using the USDC...