Stripe Acquires Stablecoin Platform Bridge in Recent Deal

TechCrunch founder Michael Arrington has reported that payment processing giant Stripe has acquired digital currency platform Bridge for $1.1 billion.

The deal, which has been in the works for some time, would be the largest acquisition for Stripe. It is also one of the biggest in the history of the cryptocurrency market.

However, neither organization has officially confirmed the acquisition.

Arrington shared the news in an X post on Oct. 20, stating that the deal is already finalized.

The San Francisco and Dublin-based Stripe was valued at $70 billion in July and is used by businesses to accept online payments, while Bridge is a stablecoin platform.