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 the top stablecoins USDT and USDC to send and receive 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 after the payments company announced it would offer global support for merchant settlements using the USDC stablecoin over two layer-1 blockchains and one layer-2 solution.
At the time, Stripe’s head of products, Jeff Weinstein, said,
“Okay, crypto on Stripe is officially back!
Accept stablecoins from 150+ countries
Buyers pay in USDC (via Ethereum, Solana, Polygon)
You, as a USA business, receive USD
Works with checkout, elements, or payment intents (and soon subscriptions).
We’re rolling this out to hundreds of thousands of USA businesses today (then more countries).”
Stripe’s initial foray into supporting crypto payments started with Bitcoin, an effort that was ended in 2018 allegedly over BTC’s lack of utility as a means of payment.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Payments Giant Stripe Acquires Stablecoin Firm Bridge for $1,100,000,000, According to TechCrunch Founder appeared first on The Daily Hodl.
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
The post Payments Giant Stripe Acquires Stablecoin Firm Bridge for $1,100,000,000, According to TechCrunch Founder appeared first on The Daily Hodl. Altcoins, Blockchain, bridge, News, payments, stablecoins, stripe
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.