Stripe , the payments processing company, has reportedly engaged in discussions to acquire stablecoin platform Bridge, according to sources cited by Bloomberg. It’s worth noting that the deal is not yet finalised at the time of writing, and that there is still the possibility that either party could withdraw from the negotiations.

This potential acquisition aligns with Stripe's renewed focus on the digital asset sector, following a six-year hiatus from offering cryptocurrency-related services. Stripe's renewed interest in crypto 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 also 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. According to cointelegraph.com, these developments are particularly significant for those involved in remittance services.

By using stablecoins, senders and recipients can bypass high fees and delays, making it easier and more affordable to send smaller amounts of money across borders. In a related development, Paxos, the issuer of the Pax stablecoin, launched a new stablecoin payment platform aimed at payment service providers. Unlike individual or small business solutions, this platform enables payment processors to integrate the Paxos API into their systems.

Stripe was announced as the first payment processor to incorporate Paxos' API into its operations. Source: Link .