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<p style="font-size:21px"><strong>Stripe</strong> now acquires a stablecoin startup for a whopping $1.1bn, <strong>TechCrunch</strong> Founder Michael Arrington confirmed on Sunday.</p>
<p style="font-size:21px"><strong>Michael Arrington</strong>, founder of <strong>TechCrunch</strong>, has announced that payments giant <strong>Stripe</strong> has successfully acquired the stablecoin startup <strong>Bridge</strong> for $1.1 billion.</p>
<p style="font-size:21px">In a <a href="https://x.com/arrington/status/1848060479727435967" target="_blank" rel="noopener noreferrer nofollow">post</a> on X, referring to a report on the acquisition negotiations, Arrington confirmed that the deal is finalized.</p>
<p style="font-size:21px">A Bloomberg <a href="https://www.bnnbloomberg.ca/business/company-news/2024/10/16/stripe-in-advanced-talks-to-acquire-stablecoin-focused-fintech-platform-bridge/" target="_blank" rel="noopener noreferrer nofollow">report</a> from last week revealed that Stripe was in discussions to acquire Bridge, a company that enables businesses to utilize leading stablecoins like <strong>USDT</strong> and <strong>USDC</strong> for sending and receiving payments.</p>
<p style="font-size:21px"><strong>Bridge</strong> has secured a total of $58 million in funding from notable investors, including <strong>Sequoia</strong> and <strong>Haun Ventures</strong>, which was founded by former <strong>Coinbase</strong> board member <strong>Katie Haun</strong>.</p>
<p style="font-size:21px">The startup raised $40 million in its latest Series A funding round led by Sequoia.</p>
<p style="font-size:21px">This acquisition comes shortly after Stripe announced its plans to support global merchant settlements using the USDC stablecoin across two layer-1 blockchains and one layer-2 solution.</p>
<p style="font-size:21px"><strong>Jeff Weinstein</strong>, Stripe’s head of products, stated, <em>“Crypto on Stripe is officially back! Accept stablecoins from over 150 countries. </em></p>
<p style="font-size:21px"><em>Buyers can pay in USDC (via Ethereum, Solana, and Polygon), and U.S. businesses will receive USD. </em></p>
<p style="font-size:21px"><em>This will work with checkout, elements, payment intents, and soon subscriptions. </em></p>
<p style="font-size:21px"><em>We’re rolling this out to hundreds of thousands of U.S. businesses today and will expand to more countries later.”</em></p>
<p style="font-size:21px">Stripe’s initial venture into crypto payments began with <strong>Bitcoin</strong> but was discontinued in 2018 due to concerns over BTC’s utility as a payment method.</p>
<p style="font-size:21px">The news is a positive development for the crypto industry — but I’m curious to hear what you think.</p>
<p style="font-size:21px">Leave your thoughts below.</p>
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<p>The post <a href="https://franknez.com/stripe-now-acquires-a-stablecoin-startup-for-whopping-1-1bn/" rel="noopener noreferrer nofollow">Stripe Now Acquires A Stablecoin Startup For Whopping $1.1Bn</a> appeared first on <a href="https://franknez.com" rel="noopener noreferrer nofollow">FrankNez</a>.</p>

Stripe Now Acquires A Stablecoin Startup For Whopping $1.1Bn

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