Stripe Acquires Bridge to Expand Cryptocurrency Services
Bridge, initiated by Zach Abrams and Sean Yu, is set to be sold to Stripe for approximately $1.1 billion. According to Forbes, negotiations are in advanced stages. Michael Arrington reported that the deal was completed as this article was being prepared
Recently, the sale of another cryptocurrency company has become clearer. A platform initiated by former Coinbase employees is being sold. The cryptocurrency sector has faced challenging times, where investment decisions have been retracted. However, there has been an increasing trend of investments and agreements in this area for a long time.
The platform, which enables businesses to issue and accept stablecoins, was launched by former Coinbase employees. There is significant interest in projects and infrastructures that build a bridge between traditional finance and Web3. We are witnessing an increase in the number of infrastructure services related to tokenization, crypto issuance, and other areas, including Chainlink $12’s CCIP.
Bridge, initiated by Zach Abrams and Sean Yu, is set to be sold to Stripe for approximately $1.1 billion. According to Forbes, negotiations are in advanced stages. Michael Arrington reported that the deal was completed as this article was being prepared. Bridge had built an API that assists companies in accepting stablecoins and received $58 million in funding from numerous investors.
The platform, which enables businesses to issue and accept stablecoins, was launched by former Coinbase employees. There is significant interest in projects and infrastructures that build a bridge between traditional finance and Web3. We are witnessing an increase in the number of infrastructure services related to tokenization, crypto issuance, and other areas, including Chainlink $12’s CCIP.
Bridge, initiated by Zach Abrams and Sean Yu, is set to be sold to Stripe for approximately $1.1 billion. According to Forbes, negotiations are in advanced stages. Michael Arrington reported that the deal was completed as this article was being prepared. Bridge had built an API that assists companies in accepting stablecoins and received $58 million in funding from numerous investors.
With the latest investments, the company, which has a valuation of $200 million, has reached a valuation of $1.1 billion with the signing of the agreement, rapidly multiplying its value. This marks Stripe’s first significant acquisition.
