Stripe / Bridge 2024
Stripe acquired Bridge for $1.1B on October 20, 2024.
- Target
- Bridge
- Acquirer
- Stripe
- Deal value
- $1.1B
- Deal type
- Cash
- Announced
- October 20, 2024
- Sub-sector
- Crypto / Digital Assets
Transaction overview
- Stripe announced the acquisition of Bridge on October 20, 2024, for approximately $1.1 billion in cash.
- Bridge is a stablecoin payments infrastructure company founded in 2022 and headquartered in San Francisco.
- Bridge's API allows businesses to issue, store, and move funds using stablecoins such as USDC and USDT.
- The deal is reported to be one of the largest acquisitions in the stablecoin sector to date.
- Stripe processes hundreds of billions of dollars in payments annually and serves businesses in over 100 countries.
- Stripe re-enabled crypto payments in 2024 after pausing them in 2018, making Bridge a direct product extension.
- Bridge had raised approximately $58 million in venture funding prior to the acquisition.
- The transaction was pending regulatory review at announcement; close timing was not publicly confirmed.
Why it matters
- The $1.1 billion price tag is among the largest M&A exits in the stablecoin infrastructure space on record.
- The deal signals that major payments incumbents are moving to own stablecoin rails rather than partner with them.
Strategic rationale
Stripe acquires stablecoin payments orchestration platform to add USDC and dollar-denominated stablecoin rails to its global payment infrastructure.
Deal terms & multiples
About Bridge
Bridge is a San Francisco-based fintech company that provides API infrastructure for stablecoin payments. Founded in 2022 by Zach Abrams and Sean Yu, the company lets businesses issue stablecoins, accept them as payment, and move money across borders using USDC, USDT, and other dollar-pegged tokens. Bridge's customers include fintech companies and enterprises that want to settle transactions in stablecoins without building the underlying plumbing themselves. The company raised roughly $58 million from investors including Sequoia Capital and Ribbit Capital before the Stripe deal.
- Founded
- 2022
- HQ
- United States
- Prior funding
- ~$58 million; investors included Sequoia Capital and Ribbit Capital
- Key metric
- ~$58M raised from Sequoia and Ribbit Capital prior to acquisition
About Stripe
Stripe is a private payments technology company founded in 2010 by Patrick and John Collison and headquartered in San Francisco. The company provides payment processing APIs used by businesses ranging from early-stage startups to large enterprises across more than 100 countries. Stripe was last valued at $65 billion in a 2023 tender offer. The company had stepped back from crypto-related products in 2018 but resumed stablecoin payment support in 2024, shortly before announcing the Bridge acquisition.
- Founded
- 2010
Frequently asked questions
How much did Stripe pay for Bridge?
Stripe agreed to pay approximately $1.1 billion in cash. The deal was announced on October 20, 2024.
What does Bridge do?
Bridge provides API infrastructure that lets businesses issue, store, and transfer funds using stablecoins such as USDC and USDT. Its tools are aimed at fintechs and enterprises that want to settle payments in dollar-pegged tokens.
Why did Stripe acquire Bridge?
Stripe re-entered crypto payments in 2024 and acquiring Bridge gave it proprietary stablecoin infrastructure rather than relying on third-party providers. Bridge's API fits directly into Stripe's existing payments stack.
Who founded Bridge?
Bridge was founded in 2022 by Zach Abrams and Sean Yu.
How much funding had Bridge raised before the acquisition?
Bridge had raised approximately $58 million from investors including Sequoia Capital and Ribbit Capital.
Is Stripe publicly traded?
No. Stripe remains a private company and was last valued at $65 billion in a 2023 tender offer.
Sources
- stripe.com /newsroom/news/stripe-acquires-bridge