Stablecoin

In a significant move validating stablecoins' potential on public blockchains, Stripe's acquisition of Bridge underscores the growing acceptance of these digital currencies. Bernstein reports that stablecoins are now the most cost-effective option for cross-border transactions.
Stripe's $1.1 billion purchase of Bridge, a stablecoin platform, <a href="https://www.coindesk.com/markets/2024/10/22/stripes-acquisition-of-bridge-validates-the-usage-of-stablecoins-bernstein/" rel="noopener noreferrer nofollow">marks</a> the largest crypto-related acquisition by a leading payments company. Analysts led by Gautam Chhugani of Bernstein emphasize that with enhanced blockchain scalability, stablecoins have become the premier use case, particularly in international payments.
The report highlights U.S. dollar-denominated stablecoins as the most affordable cross-border payment method, with transaction costs ranging between 1 to 2 basis points. This innovation disrupts traditional financial systems by offering large-scale payments without bank involvement.
Bridge plays a crucial role by developing API software, allowing businesses to seamlessly integrate stablecoin transactions into their existing payment infrastructures. The deal illustrates the increasing recognition of the advantages of stablecoin-based payments among non-crypto corporations.
Architect Partners, an investment bank, notes these developments as a testament to the growing traction of stablecoin payments. The banking sector faces a formidable challenge with such payment innovations decentralizing the process and eliminating traditional bank intervention.

Stripe's Bridge Deal Confirms Stablecoin Adoption, Says Bernstein

Yellow News

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