bullish

Base

<p>In a major move that’s catching attention in the crypto world, Stripe has acquired stablecoin platform Bridge at a&nbsp;<a href="https://www.tradingview.com/news/cointelegraph:96fd4d783094b:0-techcrunch-founder-says-stripe-has-acquired-bridge-for-1-1b/" target="_blank" rel="nofollow noopener">$1.1 billion</a>&nbsp;valuation. This deal was confirmed on October 20, 2024, by TechCrunch founder Michael Arrington on&nbsp;<a href="https://x.com/arrington/status/1848060479727435967" target="_blank" rel="nofollow noopener">X</a>, marking Stripe’s biggest acquisition yet and the largest in crypto history. After weeks of rumours, the official acquisition announcement wraps up talks between the two companies.</p> 
<p><img loading="lazy" decoding="async" class="size-full wp-image-24541 aligncenter" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/Qubetics-is-728x90-1-1.jpg" alt="Qubetics is 728x90 1 1" width="728" height="90" title="Stripe’s $1.1B Bridge Acquisition Sparks a Crypto Market Shakeup 56"></p> 
<p>&nbsp;</p> 
<h2 id="what-s-bridge-and-why-is-it-important">What’s Bridge, and Why Is It Important?</h2> 
<p>Founded in 2022 by former Coinbase executives Zach Abrams and Sean Yu, Bridge has made a name for itself by simplifying stablecoin payments for businesses. It allows companies to easily accept&nbsp;<a href="https://www.turkishnyradio.com/stablecoin-market-sees-pyusd-supply-swell/">stablecoins</a>&nbsp;like Tether’s USDT and Circle’s USDC, supporting transactions in over 70 countries. Stablecoins are pegged to traditional currencies, and they are seen as more reliable and less volatile than other cryptocurrencies. This makes them ideal for cross-border payments and remittances.</p> 
<p><img loading="lazy" decoding="async" class="size-full wp-image-24659 aligncenter" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/gaya.jpg" alt="Stripe’s $1.1B Bridge Acquisition Sparks a Crypto Market Shakeup" width="1325" height="761" title="Stripe’s $1.1B Bridge Acquisition Sparks a Crypto Market Shakeup 57" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/10/gaya.jpg 1325w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/gaya-768x441.jpg 768w" sizes="(max-width: 1325px) 100vw, 1325px"></p> 
<p>Capital, Index Ventures, and Haun Ventures: Bridge has already raised $58 million, with $40 million coming from its Series A round. Now, with Stripe stepping in, it’s clear that the payment giant sees huge potential in stablecoins as a key part of its future strategy, especially as it continues expanding globally.</p> 
<h2 id="stripe-s-record-breaking-deal">Stripe’s Record-Breaking Deal</h2> 
<p>At $1.1 billion, this acquisition is not just a big move —it’s a record-breaker. It has surpassed the other major deals in the crypto industry, including CoinShares’ $530 million purchase of Valkyrie Funds and Robinhood’s $200 million acquisition of Bitstamp. With this acquisition, Stripe is making a clear statement about its bullish future in digital currencies.</p> 
<p>Plus, the timing couldn’t be better. Stripe recently started crypto payment options for U.S. companies in that market. With the acquisition of Bridge, it can take advantage of this trend and go head-to-head with other financial companies like PayPal and Adyen, who are also ramping up their crypto services. This deal positions Stripe to offer cutting-edge solutions to a global audience.</p> 
<h2 id="why-this-move-matters-for-stripe">Why This Move Matters for Stripe</h2> 
<p>Buying Bridge for a stripe is a first-mover advantage for the company. Earlier this month, they brought back crypto payments for U.S. businesses, making it easy to use stablecoins on platforms like Ethereum, Solana, and Polygon. They’ve also partnered with Coinbase, adding Coinbase’s Base Layer 2 network to their crypto payment options, letting customers use Stripe directly within the Coinbase Wallet.</p> 
<p>&nbsp;</p> 
<p><a href="https://www.turkishnyradio.com/wp-content/uploads/2024/10/stripe-crypto-timeline-clean.svg"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-24528" title="Stripe Acquires Stablecoin Platform Bridge for $1.1 Billion in Landmark Crypto Deal 2" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/stripe-crypto-timeline-clean.svg" alt="stripe crypto timeline clean" width="800" height="400" data-pin-no-hover="true"></a>By acquiring Bridge, Stripe is doubling down on stablecoins, which are gaining popularity for their ability to offer more stable, predictable payments compared to other cryptocurrencies.<br> This could result in a huge increase in transaction volumes, especially for international payments. This is because stablecoins provide a better alternative to traditional methods.</p> 
<p>Additionally, this acquisition opens up new revenue opportunities for Stripe. As more businesses start using stablecoins for everyday payments, their valuation levels up further, setting itself apart from its competitors.</p> 
<p><img loading="lazy" decoding="async" class="size-full wp-image-24661 aligncenter" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/gayaaa.jpg" alt="Stripe’s $1.1B Bridge Acquisition Sparks a Crypto Market Shakeup" width="1326" height="755" title="Stripe’s $1.1B Bridge Acquisition Sparks a Crypto Market Shakeup 58" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/10/gayaaa.jpg 1326w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/gayaaa-768x437.jpg 768w" sizes="(max-width: 1326px) 100vw, 1326px"></p> 
<h2 id="the-competition-is-watching">The Competition Is Watching</h2> 
<p>While this is a big win for Stripe, it’s not the only one eyeing the stablecoin market. Rivals like Revolut and Robinhood have shown interest in launching their digital currencies, and stablecoins are becoming more attractive as regulations become clearer—especially with the EU’s recent Markets in Crypto-Assets (MiCA) rules.</p> 
<h2 id="way-forward">Way Forward</h2> 
<p>With this deal, Stripe is making a strong bet on the future of payments, and stablecoins are set to play a big part in that as they gain huge recognition driven by clearer regulations. There could be increasing interest from businesses and financial institutions; they are becoming an alternative method for cross-border transactions. In a rapidly evolving financial landscape, Stripe’s entry into the stablecoin market proves to be a landmark event in the payment industry.</p>

Stripe’s $1.1B Bridge Acquisition Sparks a Crypto Market Shakeup

Table of Contents

TNYR

Other articles published on Oct 21, 2024

CoinUp.io Announces the Launch of Multiple Stock and Derivatives Trading Options, with More to Co...

PEPE Volume Skyrockets 51%, But There's a Catch

Solana Price Up In A Week: Can SOL Hit $200?

New Cryptocurrenc͏y Releases, ͏L͏istings, &͏ Pr͏e͏sa͏le͏s͏ To͏day – Onecoinbuy, Phenx, Slavi Coin

XRP Surging To $0.56 As SEC Appeals Against Ripple Case Ruling

Whale Spends Over $7M on $GOAT, Igniting Market Confidence Despite Price Drop

Join our free newsletter for daily crypto updates!