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Stripe hasclosed on its $ 1.1 billion purchaseof stablecoin platform Bridge — scar the payment giant’slargest acquisition to dateand tangible push button into crypto .
Co - founded in 2022 by Coinbase and Square alumni Zach Abrams and Sean Yu , San Antonio , Texas - base Bridge build an API that help party consent stablecoins . The dyad grow $ 58 million from investors such as Index Ventures and Sequoia Capital , accord to PitchBook . It was evaluate at $ 200 million when it bring up a $ 40 million Series A in 2024 .
With this acquisition , Stripe is clearly wager freehanded on crypto .
In a February 5post on X , Stripe co - founder and CEO Patrick Collison wrote : “ We expected Bridge ( go follow them at@stablecoin ) to raise very quickly , and we ’re nevertheless shocked at just how rapidly acceptance is detonate . In the coming years , everyone programmatically moving money will likely want a stablecoin strategy . ”
Last July , Stripeenabled crypto purchasesin the EU , and in October , the fintech announce a Pay with Crypto feature that lets merchants take stablecoins .
