Stripe Eyes New Acquisition to Strengthen Stablecoin Payments

Stripe is exploring a potential acquisition of Bridge, a stablecoin payment platform, as it aims to strengthen its foothold in the stablecoin market.

Currently, discussions are underway, but no formal agreements have been established, leaving both parties free to withdraw if needed.

Bridge, which recently secured $58 million in funding from notable investors like Sequoia and Index Ventures, provides businesses with tools to manage stablecoins such as USDT and USDC. A partnership with Stripe could enhance Bridge’s capabilities in developing a competitive stablecoin payment network.

Stripe’s interest in stablecoins signals a broader trend towards their adoption in global payment systems. Recently, the company integrated Paxos, another stablecoin platform, and announced the return of USDC payments for U.S. businesses, supporting transactions on Ethereum, Solana, and Polygon networks.

READ MORE:

Paxos Partners with Stripe to Revolutionize Stablecoin Payments

With many of its e-commerce clients looking for affordable customer outreach solutions, Stripe recognizes the potential of stablecoins in meeting these demands. Co-founder John Collison has highlighted the benefits of using cryptocurrency for transactions, particularly regarding speed and cost-effectiveness.

If the collaboration with Bridge proceeds, it will further cement Stripe’s position in the stablecoin sector, aligning it with other major players like PayPal and Visa, while firms like Robinhood remain more hesitant about entering this market.

Alexander Zdravkov