Stripe acquires Bridge Network for $1.1 billion to expand into stablecoin market
Stripe has completed its $1.1 billion acquisition of Bridge Network, marking a significant move into the stablecoin market. This deal follows a meeting last summer where Stripe executives recognized Bridge's potential in stablecoin infrastructure. Bridge, which specializes in facilitating stablecoin payments, will help Stripe enhance its global payment capabilities. The acquisition comes after Stripe's previous attempt to enter the crypto space faltered in 2018 due to scalability issues. With this acquisition, Stripe aims to streamline cross-border transactions and reduce costs. Bridge will continue its operations while both teams explore new product opportunities together.