Stripe eyes Bridge buyout to enter stablecoin arena

Stripe, the Irish-American payment technology company, is reportedly in talks to acquire Bridge, a fintech platform specialising in stablecoin payments. 

The potential $58 million acquisition would advance Stripe’s entry into the growing stablecoin market and enhance its crypto payments capabilities. 

Bridge is a venture-backed platform that enables businesses to issue and accept stablecoins, including USDT (CRYPTO:USDT) and USDC (CRYPTO:USDC). 

It has attracted interest from major investors like Sequoia and Index Ventures, having raised $58 million in August, signaling investor confidence in stablecoins' role in global finance. 

If the acquisition proceeds, it would align with Stripe’s strategy to offer low-cost, fast payments to e-commerce and global markets. 

Stripe’s product lead, Jeff Weinstein, recently reintroduced USDC payments, noting that stablecoins can reduce transaction fees and increase speed. 

"We do things that internet businesses want; they want to reach more customers at lower costs,” Weinstein stated, according to Bloomberg. 

Bridge’s platform allows businesses to manage cross-border payments and currency exchanges using stablecoins, positioning it as a potential disruptor in traditional finance. 

Stripe’s largely e-commerce customer base stands to benefit from the efficiency and cost-effectiveness that stablecoins offer. 

Stripe has already partnered with crypto payment providers like Bitstamp and Coinbase. 

The acquisition of Bridge would strengthen its presence in the stablecoin payments sector, placing it alongside other firms like PayPal and Visa, which are also expanding in this market, while competitors like Robinhood take a more cautious approach.