Stripe acquires stablecoin platform Bridge for $1.1 billion

It has been revealed that payments giant Stripe has acquired stablecoin platform Bridge for $1.1 billion (approximately 164.7 billion yen).
On the 20th (local time), TechCrunch founder Michael Arington
Arrington said in a post on X (formerly Twitter) that the transaction was completed for $1.1 billion.
The deal marks the largest acquisition in the history of San Francisco and Dublin-based Stripe and will go down as one of the biggest acquisitions in cryptocurrency history.
However, neither Stripe nor Bridge have made any official announcements. Stripe is a payment platform that can process various payments, including credit cards and debit cards, online.
Stripe is a payment platform that is used by millions of people around the world, and in March 2023, it reported that its total payment processing volume in 2023 would exceed $1 trillion (approximately 150 trillion yen).
The deal is said to be equivalent to about 1% of the nation's GDP. The deal was made by Sprite co-founder John Collison.
Collison announced that it would support stablecoin payments globally starting this summer.
This comes less than two weeks after Stripe introduced stablecoin payments to its main payments user interface.
Meanwhile, Bridge will appoint two former Coinbase executives, Zach Abrams and Sean Abrams, in 2022.
Yu founded the stablecoin-based payments network, which competes to replace the SWIFT network and credit cards.