Stripe Acquires Stablecoin Platform Bridge for $1.1B, Marking Crypto’s Largest M&A Deal
Payments giant Stripe has confirmed its acquisition of stablecoin infrastructure provider Bridge in a landmark $1.1 billion deal, signaling a major push into digital currency payments. The transaction, which represents both Stripe’s largest acquisition to date and the crypto industry’s biggest M&A deal, highlights the growing mainstream adoption of stablecoin technology.
Bridge, founded in 2022 by Coinbase alumni Zach Abrams and Sean Yu, has experienced remarkable growth since launching its APIs in March 2023. The company processes billions in annual payment volume and has secured high-profile clients including SpaceX, which uses Bridge for global treasury management.
“Stablecoins are room-temperature superconductors for financial services,” Stripe CEO Patrick Collison announced on social media. “Businesses around the world will benefit from significant speed, coverage, and cost improvements in the coming years.”
The acquisition marks a significant shift in Stripe’s crypto strategy, following its return to the space earlier this month with the introduction of “Pay with Crypto,” enabling USDC payments across 150 countries through a partnership with Paxos. The company had previously abandoned crypto support in 2018 due to transaction speed issues and high costs.
Bridge’s meteoric rise has been particularly noteworthy, with the company reporting a tenfold increase in business this year alone. The platform has facilitated various use cases, from cross-border payments to government aid disbursement, demonstrating the practical utility of stablecoin infrastructure beyond traditional crypto applications.
The deal, which is subject to regulatory approval, is expected to close in the coming months. It represents a substantial premium over Bridge’s previous $200 million valuation, reflecting the strategic importance of stablecoin technology in the evolving payments landscape.
“Together, we’ll be able to solve bigger problems, support more developers, and help more consumers and businesses all across the world,” said Bridge CEO Zach Abrams, noting that both companies share a vision for stablecoins becoming core global payment infrastructure.
This acquisition comes as major financial institutions like Visa and SWIFT have begun supporting stablecoins, while companies such as Revolut and Robinhood have expressed interest in launching their own stablecoin initiatives in 2024.
