Patrick Collison, the co-founder and CEO of Stripe, recently shared exciting news on X. He confirmed that Stripe plans to acquire the stablecoin platform Bridge.
Bridge helps businesses issue and accept stablecoins. Meanwhile, Stripe uses these digital currencies for global payment acceptance.
This acquisition was first reported by Bloomberg News on October 16. However, it's important to note that the deal still needs regulatory approvals and must meet certain closing conditions.
According to a post from Bridge’s account on X, both parties expect to finalize the deal in the coming months. Stripe is set to pay around $1.1 billion for this acquisition, as Forbes reported. A spokesperson for Stripe chose not to comment on the purchase amount.