Stripe Expands Crypto Efforts with $1.1 Billion Acquisition of Bridge
Oct/24/2024
In a landmark $1.1 billion deal, payments giant Stripe has acquired stablecoin platform Bridge, marking its largest acquisition and the biggest in the crypto industry to date. Bridge, valued at $200 million prior to the acquisition, facilitates stablecoin payments for businesses, signaling Stripe’s push into the growing fintech and crypto space. Over the past decade, fintech has transformed from a niche trend into a global financial powerhouse, driven largely by innovations in digital payments. Despite recent declines in fintech investment, spurred by macroeconomic factors and higher interest rates, the sector remains resilient, with companies like Stripe leading the charge. Valued at $50 billion, Stripe stands as the world’s most valuable fintech unicorn, surpassing even major players like UK-based Revolut. This acquisition underscores Stripe’s commitment to expanding its cryptocurrency footprint while adapting to the evolving financial landscape.
