As a seasoned analyst with over two decades of experience in the tech and finance sectors, I find Stripe’s move to acquire Bridge for $1.1 billion a strategic one that aligns well with the current crypto market trends. Having closely followed the trajectory of both Square and Coinbase, I can see how Bridge, founded by their alumni, could potentially be a game-changer in the stablecoin landscape.
In an effort to further its aims in the realm of cryptocurrencies, payment processing company Stripe has sealed a deal worth $1.1 billion to acquire the stablecoin platform Bridge, as reported by Michael Arrington, the founder of TechCrunch, on a recent post.
The startup, which has secured a total of $54 million in investments, was established by former employees from Square and Coinbase – Zach Abrams and Sean Yu. Notable clients for this company include SpaceX and publicly-traded Coinbase (COIN).
The company had earlier expressed its ambition to emulate Stripe within the realm of blockchain technology, aiming to establish and manage a worldwide network that other developers could seamlessly incorporate into their own projects.
This year, Stripe is investigating the possibility of expanding its services to include cryptocurrencies, particularly Circle’s USDC stablecoin, allowing businesses to accept digital currency transactions.
By the time of publication, neither Stripe nor Bridge responded to CoinDesk’s request for comments.
Read More
- W PREDICTION. W cryptocurrency
- PENDLE PREDICTION. PENDLE cryptocurrency
- AEVO PREDICTION. AEVO cryptocurrency
- AAVE PREDICTION. AAVE cryptocurrency
- ZETA PREDICTION. ZETA cryptocurrency
- REF PREDICTION. REF cryptocurrency
- FutureNet Co-Founder Roman Ziemian Arrested in Montenegro Over $21M Theft
- ERG PREDICTION. ERG cryptocurrency
- PROM PREDICTION. PROM cryptocurrency
- DESO PREDICTION. DESO cryptocurrency
2024-10-21 17:05