Stripe’s interest in crypto infrastructure has made headlines with reports suggesting it is set to acquire Bridge, a stablecoin platform. These rumors gained more traction after TechCrunch founder Michael Arrington posted about it on X (formerly Twitter) on Sunday.
According to Arrington’s post, Stripe finalized the purchase of Bridge for $1.1 billion following negotiations that first surfaced in the media last week. This deal has become the largest transaction in the crypto industry to date and marks the biggest acquisition in Stripe’s history.
Founded in 2022 by Sean Yu and Zach Abrams, Bridge operates as a stablecoin-powered global payment network. The company’s mission is to facilitate cross-border money transfers and has developed APIs that allow businesses to accept payments in USDT and USDC stablecoins. On its LinkedIn page, Bridge summarizes its operations as “moving in and out of any form of the dollar.”
This acquisition stands out as Sean Yu’s second major exit, while also delivering exceptional returns for Bridge’s investors. In August 2024, Bridge raised $40 million in its most recent funding round, which valued the company at $200 million. If Arrington’s claims hold true, investors from that round have seen one of the most surprising and rapid exits in their professional careers, taking place just two months after their investment.
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