The latest payment giant to advance stablecoin adoption is Stripe, which announced the acquisition of start-up Bridge on Monday. The $1.1 billion acquisition was originally announced on Sunday by TechCrunch founder Michael Arrington on X and later confirmed by both Stripe and Bridge.

The Stripe acquisition of Bridge for a staggering $1.1 billion has underscored the growth of stablecoins as a payment method, says Bernstein.

Stripe has closed a deal to acquire Bridge, a newly established stablecoin network founded by former Coinbase and Square executives.

Bridge, which has raised $54 million in funding, previously said it aspired to become the blockchain version of Stripe, operating a global system in which other developers could integrate.

The deal, one of the largest in crypto history, follows Stripe announcing stablecoin support earlier this month.

Payments giant Stripe has reportedly acquired stablecoin platform Bridge for $1.1 billion, marking a significant move in the company's expansion into cryptocurrency services

Some companies use the startup’s software to accept customer payments in stablecoins. Others rely on Bridge to process cross-border transactions. Additionally, the company provides a service that allows developers to issue their own stablecoins and invest users’ funds in U.S. Treasuries.

Stripe has reportedly completed the acquisition deal of Bridge, a stablecoin platform, just about two weeks after the payments firm returned to supporting crypto through the $USDC stablecoin.

Stripe has reportedly acquired stablecoin platform Bridge for $1.1 billion, marking its largest acquisition to date, according to TechCrunch founder Michael Arrington.

Fintech giant Stripe has acquired stablecoin platform Bridge for $1.1 billion, according to TechCrunch founder Michael Arrington.

Stripe Inc. co-founder and Chief Executive Officer Patrick Collison confirmed in a X post on Monday that the payments company plans to buy stablecoin startup Bridge.