Payment processing giant Stripe has finalized a monumental $1.1 billion acquisition of the stablecoin platform Bridge, as reported by TechCrunch founder Michael Arrington. This deal marks a significant expansion for Stripe into the cryptocurrency domain,

Stripe is a global financial technology company that provides a comprehensive platform for businesses to accept and manage online payments. Acting as an intermediary between customers and businesses,

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.

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.

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.

B acquisition of Bridge validates the usage and growth of stablecoins as a legit use case for public blockchains," Bernstein wrote in a note to clients on Tuesday. The move comes as Stripe (STRIP) seeks to become "the world's best stablecoin infrastructure,

Stripe Inc. today announced plans to buy Bridge Ventures Inc., a startup with a platform for processing stablecoin transactions. The companies didn’t disclose the deal’s financial terms. However, a source told Forbes that Stripe is paying $1.