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Payments company Stripe acquires fixed-coin firm Bridge

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By Arover
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Payments company Stripe acquires fixed-coin firm Bridge

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Stripe, one of the most prominent companies in digital and online payments, has bought fixed-coin company Bridge for $1.1 billion. This information was given by Michael Arrington, the founder of the TechCrunch website, which is known for its technology news.

Founded by entrepreneurs Sean Yu and Zach Abrams, Bridge recently received a $58 million investment and is valued at $200 million. Thus the company was sold for 5 times its value.

The move was the largest acquisition in both Stripe and crypto history.

Stripe, which is valued at $70 billion, also partnered with the Coinbase exchange and added Base, the exchange’s Layer 2 network, to its crypto payment methods.

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