Stripe reportedly in discussions to buy stablecoin infrastructure start-up Bridge in potential $1bn deal
US payments giant Stripe is reportedly in advanced talks to buy stablecoin infrastructure start-up Bridge in a deal potentially worth $1 billion, according to a report by Bloomberg citing sources familiar with the discussions.
Stripe is reportedly in advanced talks with Bridge
Neither Stripe nor Bridge have officially confirmed the talks, and it remains possible that the transaction may not come to fruition.
Launched in 2022, Bridge operates an orchestration API that enables companies to store, move and accept stablecoins. This sits alongside an issuance API, which companies can use to issue their own form of stablecoin.
The company was founded by Zach Abrams and Sean Yu, former product chief and staff engineer for crypto exchange Coinbase, respectively. The pair first collaborated to launch peer-to-peer payments platform Evenly in 2012, which was later acquired by Square the following year.
Bridge has reportedly raised $58 million to date, as per data published by Fortune in August, and counts Sequoia Capital, Ribbit Capital, Index Ventures, Haun Ventures and Bedrock among its current backers.
Should a potential deal go ahead, it would continue Stripe’s ongoing exploration of digital asset capabilities.
Stripe previously confirmed its plans to introduce stablecoin payments as a checkout payment option last April, after unveiling an embeddable fiat-to-crypto onramp in 2023.
