Stripe Boosts Crypto Game With $1.1 Billion Bridge Buyout

Stripe made a groundbreaking move as the online payment processing platform tries to position itself as a key player in the cryptocurrency space. The fintech company has reportedly bought the stablecoin platform Bridge in a landmark acquisition deal, a transaction that sent ripples across the cryptocurrency arena. Related Reading: Going Crypto: Putin Reveals BRICS’ Shift […]

Oct 21, 2024 - 22:00

Stripe Boosts Crypto Game With $1.1 Billion Bridge Buyout

Stripe made a groundbreaking move as the online payment processing platform tries to position itself as a key player in the cryptocurrency space.

The fintech company has reportedly bought the stablecoin platform Bridge in a landmark acquisition deal, a transaction that sent ripples across the cryptocurrency arena.

Stripe-Bridge Acquisition Deal

TechCrunch founder Michael Arrington said that the payment processing firm Stripe purchased fintech startup Bridge with a price tag of $1.1 billion. As of press time, the two companies involved are still mum on the deal and have not yet released any official statement.

According to sources, the $1.1 billion acquisition cost to buy Bridge is so far the largest purchase in the cryptocurrency space to date. The deal surpassed recent notable acquisitions such as CoinShares purchasing Valkyrie Funds for $530 million and the $200-million contract to buy Bitstamp by Robinhood.