Stripe, a renowned payments company founded by the billionaire Collison brothers, is negotiating to acquire Bridge, a Texas-based fintech platform. Bridge facilitates businesses in managing stablecoins like USDT and USDC and has secured $58 million in funding from notable investors including Sequoia and Ribbit Capital. Stripe, which recently resumed crypto payments with USDC in the U.S., aims to bolster its position in the growing stablecoin market through this acquisition. This potential deal aligns with industry trends, as other tech companies like Visa and Robinhood are exploring stablecoin ventures.
Bridge, co-founded by Zach Abrams and Sean Yu, represents a strategic move for Stripe amidst its recent decision to repurchase over $1 billion in shares, valuing the company at $65 billion. Despite its status as a prime IPO candidate, Stripe's founders have expressed no rush to go public.
Source: Bloomberg
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