{"id":1460,"date":"2024-10-21T17:32:33","date_gmt":"2024-10-21T17:32:33","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=1460"},"modified":"2024-10-21T17:32:33","modified_gmt":"2024-10-21T17:32:33","slug":"stripe-boosts-crypto-game-with-1-1-billion-bridge-buyout","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=1460","title":{"rendered":"Stripe Boosts Crypto Game With $1.1 Billion Bridge Buyout"},"content":{"rendered":"
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Stripe made a groundbreaking move as the online payment processing platform tries to position itself as a key player in the cryptocurrency space.<\/p>\n

The fintech company has reportedly bought the stablecoin platform Bridge in a landmark acquisition deal, a transaction that sent ripples across the cryptocurrency arena.<\/p>\n

Stripe-Bridge Acquisition Deal<\/h2>\n

TechCrunch founder Michael Arrington said that the payment processing firm Stripe purchased fintech startup Bridge<\/a> with a price tag of $1.1 billion. As of press time, the two companies involved are still mum on the deal and have not yet released any official statement.<\/p>\n

According to sources, the $1.1 billion acquisition cost<\/a> to buy Bridge is so far the largest purchase in the cryptocurrency space to date. The deal surpassed recent notable acquisitions such as CoinShares purchasing Valkyrie Funds for $530 million and the $200-million contract to buy Bitstamp by Robinhood.<\/p>\n

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This deal is done. $1.1b https:\/\/t.co\/J7ppK4uHw0<\/a><\/p>\n

\u2014 Michael Arrington \"\ud83c\udff4\u200d\u2620\ufe0f\" (@arrington) October 20, 2024<\/a><\/p>\n<\/blockquote>\n

The deal is considered part of Stripe\u2019s proactive response to global trends, a move to better position itself to meet the increasing demand for cryptocurrency services.<\/p>\n

Integrating Bridge into Stripe can potentially streamline cryptocurrency<\/a> transactions of its users, although no details of the deal have been made public yet.<\/p>\n

Stripe Interest On Stablecoins<\/h2>\n

The acquisition reflects Stripe\u2019s direction of embracing stablecoin payments. Six months ago, Stripe co-founder John Collison committed that the firm would throw its support to stablecoin transactions.<\/p>\n

<\/p>\n

Recently, Stripe integrated Circle USD, a known stablecoin, in its payment interface.<\/p>\n

In April this year, Stripe announced that it will enter the cryptocurrency space once again after a six-year absence. Adopting cryptocurrencies in mainstream payment has become the trend in businesses across the world.<\/p>\n

\"\"<\/p>\n

What Bridge Brings To The Table<\/p>\n

Businesses use Bridge for cross-border payments, wherein they utilize stablecoins in their transactions.<\/p>\n

To date, Bridge<\/a> has processed more than $5 billion in annualized payment volume. Some of its notable clients include SpaceX, the U.S. State Department, the U.S. Treasury, and Coinbase.<\/p>\n

Preference for stablecoins has been increasing in the financial world such as USDC, Dai, and Tether. The collective market cap for stablecoin is estimated at over $170 billion.<\/p>\n

New Era Of Payment<\/p>\n

With the help of Bridge, Stripe can make crypto-enabled payments for its clients in the US.<\/p>\n

Stripe has not yet revealed its plan after the Bridge acquisition, whether it will integrate it into the existing platform or it will remain as a separate one.<\/p>\n

The Stripe-Bridge deal highlights the evolving payment processing and the increasing demand for businesses to adopt solutions, bridging the gap between cryptocurrencies and traditional finance.<\/p>\n

Featured image from Bornstein Law, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Stripe made a groundbreaking move as the online payment processing platform tries to position itself as a key player in the cryptocurrency space. The fintech company has reportedly bought the stablecoin platform Bridge in a landmark acquisition deal, a transaction that sent ripples across the cryptocurrency arena. Stripe-Bridge Acquisition Deal TechCrunch founder Michael Arrington said […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-1460","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1460","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1460"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1460\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}