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Payment company Stripe has acquired stablecoin platform Bridge for $1.1 billion, the largest acquisition in the cryptocurrency field

BlockBeats news, October 21, according to TheBlock, TechCrunch founder Michael Arrington said that payment company Stripe has acquired stablecoin platform Bridge for $1.1 billion. Bridge is Stripe's largest acquisition to date and the largest acquisition in the history of the cryptocurrency industry. It has raised $58 million from investors and was previously valued at $200 million. Bridge was founded by entrepreneurs Sean Yu and Zach Abrams and provides software tools to help companies accept stablecoin payments. The founders sold Venmo's competitor Evenly to Block in 2013; Abrams is also a former senior employee of Coinbase.

BlockBeats previously reported that Stripe has raised a total of $58 million, with investors including Sequoia, Ribbit Capital, Index and Haun Ventures. Sequoia led Bridge's latest $40 million Series A round of financing.

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Bridge will allow businesses and developers to seamlessly integrate stablecoin payments and support easy transfers of fiat currencies and stablecoins.

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Payment company Stripe has acquired stablecoin platform Bridge for $1.1 billion, the largest acquisition in the cryptocurrency field

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