The CEOs for Stripe and Bridge confirmed the news on the social media platform X on Monday, but offered few details on the deal
Bridge helps companies use stablecoins — cryptocurrencies tied to the value of a traditional currency, such as the U.S. dollar — to accept payments and move money between countries. CEO Zach Abrams said the company's size has increased exponentially in 2024.
“Our business has grown >10x this year," he said in a post on X.
Neither company commented on the timeline for the deal. A Stripe spokesperson declined to comment beyond what was written on X. Abrams and Bridge co-founder Sean Yu did not respond to LinkedIn messages. Both are former employees of the cryptocurrency exchange Coinbase, according to TechCrunch.
Customers of Bridge include Coinbase and Space X, according to the cryptocurrency news site CoinDesk. The company aspired to be a Web3 version of Stripe, buy the Salt Lake City-based startup Lemon Squeezy, which provides services like tax compliance, subscription management and fraud prevention to merchants.
By Patrick Cooley on Oct 21, 2024
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