Stablecoin payment network Bridge completes $58 million in financing, with Sequoia, Index and others participating

Odaily News Bridge, a global stablecoin payment network co-founded by former Square and Coinbase executives Zach Abrams and Sean Yu, announced that it has received $58 million in financing, with participation from Sequoia, Ribbit and Index. Bridge provides seamless conversion between fiat currencies and stablecoins, and facilitates the transfer of different stablecoins between blockchains. It has currently processed more than $5 billion in annualized payment volume and cooperated with high-end customers such as Elon Musk's SpaceX to help it collect payments in different regions and currencies, and transfer funds to its global treasury through stablecoins. (Fortune)