Stripe , a US-based payment processing company, has acquired Bridge , a fintech startup specialising in facilitating payments through stablecoins, for USD 1.1 billion. The acquisition was confirmed by TechCrunch founder Michael Arrington, though both companies have yet to issue an official announcement at the time of writing.

At USD 1.1 billion, this acquisition is the largest recorded deal within the cryptocurrency sector. It surpasses other significant transactions, such as CoinShares' USD 530 million acquisition of Valkyrie Funds and Robinhood’s USD 200 million purchase of Bitstamp. Confirmation of the deal came shortly after Bloomberg reported that Stripe and Bridge were in advanced negotiations.

We also reported on this and highlighted the possibility that either party could withdraw from the deal. This uncertainty was settled when TechCrunch’s founder confirmed the final agreement. Bridge provides businesses with the ability to accept stablecoin payments from over 70 countries.

The startup had raised USD 40 million in its Series A funding round, raising a total of USD 58 million in funding. Its investors include prominent venture capital firms such as Sequoia, Ribbit Capital, Index, and Haun Ventures. Stripe’s growing crypto involvement Earlier this year, Stripe officials announced the company's return to stablecoin services.

They noted that transactions involving stablecoins through Stripe would settle on-chain instantly and automatically convert to fiat currency. In June 2024, Stripe partnered with Coinbase to enable fiat-to-crypto onramps and offramps for users of both platforms. This collaboration aimed to provide faster settlements and lower transaction fees for customers in over 150 countries, using stablecoins.

In October 2024, Stripe expanded its cryptocurrency offerings by integrating Circle's US Dollar stablecoin (USDC) into its main payments interface. The integration saw immediate interest, with users from more than 70 countries conducting stablecoin transactions on the first day. This reflected the growing demand for tokenised fiat currencies, especially in cross-border payments where fees and long settlement times have historically been a challenge.

While it remains unclear whether Bridge will continue to operate independently or be integrated into Stripe's platform, the acquisition signals Stripe's intent to enhance its role in the stablecoin ecosystem. According to financemagnates.com, other fintech companies such as Revolut and Robinhood are also exploring stablecoins, reflecting the rising interest in this segment, especially following the European Union’s implementation of the Markets in Crypto-Assets Regulation (MiCA). Source: Link .