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HomeBankingStripe reportedly in discussions to buy stablecoin infrastructure start-up Bridge in potential...

Stripe reportedly in discussions to buy stablecoin infrastructure start-up Bridge in potential $1bn deal

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  • Stripe, a leading US payments company, is reportedly in advanced discussions to acquire Bridge, a stablecoin infrastructure start-up, in a deal potentially valued at $1 billion.
  • Neither Stripe nor Bridge have officially confirmed the negotiations, and the deal may not ultimately proceed.
  • Bridge, launched in 2022, offers:
    • An orchestration API for companies to store, move, and accept stablecoins.
    • An issuance API for businesses to create their own stablecoin.
  • The company was founded by Zach Abrams and Sean Yu, both former employees of Coinbase. They previously launched the Evenly payments platform, acquired by Square.
  • Bridge has raised $58 million to date, with notable backers including Sequoia Capital, Ribbit Capital, Index Ventures, Haun Ventures, and Bedrock.
  • This acquisition would align with Stripe’s strategy to expand its digital asset capabilities, following its plans to introduce stablecoin payments and an embeddable fiat-to-crypto onramp in 2023.

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