Stripe acquires Bridge (2024)
Stripe, the payments giant, agreed to buy Bridge, a stablecoin infrastructure startup founded in 2022 by two Coinbase and Square alumni, for $1.1 billion. It was the largest acquisition in crypto history at the time. Bridge had raised $58 million just two months earlier from Haun Ventures, Sequoia, Ribbit, and Index.
The deal turned heads among generalist investors and fintech operators who had shunned blockchain companies after two turbulent years.
It validated stablecoin infrastructure as a mainstream payments category and drew new capital into the space.
Bridge's sale cleared the way for Haun Ventures to lead BVNK's round; venture firms usually avoid backing two direct competitors.
