🎉 U.S. fintech Stripe🇺🇸 acquires stablecoin platform Bridge for 1.1 billion USD

🎉 U.S. fintech Stripe🇺🇸 acquires stablecoin platform Bridge for 1.1 billion USD
Since its founding in 2011, the Collison brothers' company has distinguished itself through large-scale operations. This time, Stripe’s acquisition marks the largest purchase in the history of the crypto sector. The deal was finalized on October 20.

Key details:

▶️ Bridge provides infrastructure for the issuance and transfer of tokenized money across multiple blockchains and supports government initiatives. Its client list includes SpaceX, Coinbase, and Stellar.

▶️ Despite its merits, Stripe paid over 5 times its valuation: the platform was valued at 200 million USD.

▶️ This acquisition is part of Stripe’s strategy to enter the stablecoin market, aiming to facilitate money transfer, storage, and spending through crypto solutions.

▶️ As for the stablecoin sector, it is anticipated to expand significantly, with the return of universal venture capital funds to the crypto community.

🐦‍⬛️ Additional Note: In 2023, Stripe processed $1 trillion in payments, reflecting a 25% increase over the past year. According to Statista Stripe holds 17% of the market, positioning it as the second-largest player globally.

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