FxNews—Stripe, the payment processing giant, recently sealed a $1.1 billion purchase agreement for the stablecoin company Bridge. This move is part of Stripe’s broader strategy to enter the cryptocurrency sector.
Initially raising $54 million, Bridge was co-founded by veterans Zach Abrams and Sean Yu from Square and Coinbase. The company, boasting notable clients like SpaceX and Coinbase, aimed to mirror Stripe’s success by providing a universal platform suitable for blockchain applications.
Stripe Considers USDC for Crypto Transactions
Stripe has been actively exploring options to incorporate cryptocurrency into its services. Throughout this year, it has considered integrating Circle’s USDC stablecoin to allow both online and in-person cryptocurrency transactions.