TechCrunch founder Michael Arrington says payments giant Stripe has completed the acquisition of stablecoin startup Bridge.
In an
A report from Bloomberg last week indicated that Stripe was in talks to acquire the stablecoin company, which offers a product that allows businesses to use major stablecoins USDT and USDC to send and receive payments.
The report said Bridge raised $58 million in seed funding from investors including Sequoia and Haun Ventures, a crypto-focused venture capital firm founded three years ago by former board member Katie Haun. Coinbase administration. Bridge raised $40 million in its latest Series A funding round led by Sequoia.
Stripe’s acquisition of Bridge comes in just over a week after payments company announced it would offer global support for merchant settlements using the stablecoin USDC on two layer 1 blockchains and a layer 2 solution.
At the time, Jeff Weinstein, Stripe’s head of product, said:
“Okay, crypto on Stripe is officially back!
Accept stablecoins from over 150 countries
Buyers pay in USDC (via Ethereum, Solana, Polygon)
As a US company you receive USD
Works with payment, items or payment intents (and soon subscriptions).
We are deploying it today in hundreds of thousands of companies in the United States (and then in other countries).
Stripe’s first foray into supporting crypto payments began with Bitcoin, an effort that ended in 2018, allegedly due to BTC’s lack of utility as a payment method.
Don’t miss a thing – Subscribe to receive email alerts straight to your inbox
Check Price Action
Follow us on XFacebook and Telegram
Surf the daily Hodl mix
& nbsp
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image generated: halfway
