Stripe is in deep negotiations to acquire the stablecoin-focused fintech company Bridge

2024-10-17 08:30:58

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ChainCatcher news, according to Bloomberg, payment company Stripe Inc. is in advanced talks to acquire the fintech platform Bridge.

Insiders revealed that Stripe has been negotiating to acquire the company, and no final decision has been made yet, with either party still able to walk away from the deal.

A representative from Stripe declined to comment. Bridge CEO Zach Abrams did not respond to multiple requests for comment via email.

Bridge's platform is designed to allow businesses to create, store, send, and receive stablecoins, such as Tether's USDT and Circle's USDC. According to Fortune magazine, the startup has raised a total of $58 million, with investors including Sequoia, Ribbit Capital, Index, and Haun Ventures.

Sequoia led Bridge's recent $40 million Series A funding round, during which it also highlighted the market opportunities for stablecoins, partly created by the initiatives of companies like Stripe.

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