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Stripe in advanced talks to acquire stablecoin-focused fintech firm Bridge

2024-10-17 00:12
Odaily News Payments company Stripe Inc. is in advanced talks to acquire fintech platform Bridge. Stripe has been in talks to acquire the company, and no final decision has been made, and either party could still back out of the deal, according to people familiar with the matter. A representative for Stripe declined to comment. Bridge CEO Zach Abrams did not respond to multiple emails requesting comment. Bridge's platform is designed to allow businesses to create, store, send and accept stablecoins such as Tether's USDT and Circle's UDSC. The startup has raised a total of $58 million from investors including Sequoia, Ribbit Capital, Index and Haun Ventures, Fortune magazine reported in August. Sequoia led Bridge's most recent $40 million Series A round, and at the time also highlighted the market opportunity for stablecoins, which was created in part by initiatives by companies like Stripe. (Bloomberg)
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