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Stripe makes $1.1B crypto bet as it closes on Bridge acquisition
Stripe has closed on its $1.1 billion purchase of stablecoin platform Bridge – marking the payment giant’s largest acquisition to date and tangible push
Co-founded in 2022 by Coinbase and Square alumni Zach Abrams and Sean Yu, San Antonio, Texas-based Bridge built an API that helps companies accept stablecoins. The pair raised $58 million from investors such as Index Ventures and Sequoia Capital, according to PitchBook. In a February 5 post on X, Stripe co-founder Patrick Collison wrote: “We expected Bridge (go follow them at@stablecoin) to grow very quickly, and we’re nevertheless shocked at just how rapidly adoption is exploding.
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