### Stripe Acquires Stablecoin Platform Bridge for $1.1 Billion

In a significant move to strengthen its foothold in the cryptocurrency landscape, Stripe has completed the acquisition of stablecoin platform Bridge for a total of $1.1 billion. The announcement came from Michael Arrington, the founder of TechCrunch, via a post on X, and was subsequently verified by both Stripe and Bridge.

Bridge, a startup that has managed to secure $54 million in funding, was established by Zach Abrams and Sean Yu, who both have notable backgrounds with Square and Coinbase. The platform's clientele includes high-profile names such as SpaceX and Coinbase. Bridge had ambitions to mirror Stripe's success within the blockchain space, offering a global system that developers could seamlessly integrate with.

Stripe, widely recognized for enabling businesses to handle payments both online and in-person, has been actively exploring opportunities to expand its cryptocurrency services. This includes using Circle's USDC stablecoin as part of its operational framework.

While attempts to reach Stripe and Bridge for comments by press time were unsuccessful, further confirmation was provided by a post from Stripe CEO Patrick Collison.

This acquisition marks a strategic effort by Stripe to integrate more deeply into the cryptocurrency sector, potentially setting the stage for more innovations in the way digital transactions are managed globally.