Bridge Fundraising for Stablecoin-Based Payments Network Totals $58M: Report

As a seasoned analyst with a decade-long career in the financial industry, I find Bridge’s ambitious project to create a global stablecoin payments network particularly intriguing. With my background in tech-focused finance and my fascination for blockchain technology, I can appreciate the potential this startup holds.

The innovative crypto company Bridge, aiming to establish a worldwide payment network utilizing stablecoins, has secured an additional $40 million in financing, bringing their total funds raised to $58 million, according to Fortune’s recent report.

The startup, co-founded by Zach Abrams and Sean Yu, who previously worked at Square and Coinbase, is striving to empower businesses to utilize stablecoins effortlessly, as stated by Abrams during a recent interview, according to the report.

As an analyst, I find myself working with a company named Bridge, which currently serves esteemed clients like SpaceX and Coinbase. This dynamic organization strives to emulate the role of a Web3-native equivalent to Stripe, functioning as a globally accessible payments system that other developers can effortlessly integrate into their projects. Interestingly, just this year, Stripe itself announced its intention to facilitate crypto payments using Circle’s USDC stablecoin.

Bridge did not immediately respond to CoinDesk’s request for further comment.