Summary:
Bridge, a Web3 stablecoin infrastructure platform dubbed "Stripe for crypto," was acquired by payment giant Stripe for $1.1 billion—marking the largest acquisition in Web3 history. This article explores Bridge's technology, growth, and impact on global stablecoin adoption.
The Rise of Bridge: From $58M Funding to $1.1B Acquisition
In October 2024, Stripe finalized its acquisition of Bridge, a stablecoin platform processing **$5+ billion in annual payments**. The deal followed Bridge's $58 million funding round in August 2024, backed by top investors like Sequoia Capital and Haun Ventures.
Founders' Expertise
- Zach Abrams (CEO): Former CPO at Brex, Consumer Lead at Coinbase, and GM at Square.
- Sean Yu (CTO): Ex-engineering lead at Airbnb, Coinbase, and Doordash.
- The duo previously founded P2P payment platform Evenly (acquired by Square in 2013).
How Bridge Works: Web3’s Payment Infrastructure
Bridge simplifies stablecoin adoption for businesses via APIs, functioning like Stripe for crypto:
Orchestration API:
- Handles compliance/tech complexities for stablecoin payments.
- Supports multi-chain transfers (Ethereum, Solana, Polygon).
Issuance API:
- Lets companies launch branded stablecoins in minutes.
- Reserves can earn yield via US Treasury investments.
👉 Discover how Bridge’s APIs transform cross-border payments
Key Adoption Metrics and Clients
| Metric | Details |
|-----------------------|----------------------------------|
| Annual Payment Volume | $5+ billion |
| Major Clients | SpaceX, Coinbase, Strike, Stellar|
| Regulatory Licenses | 48 U.S. states + Poland VASP |
Use Cases:
- SpaceX uses Bridge for multi-currency treasury management.
- Coinbase integrates Bridge for USDC/TRON transfers.
The Future of Stablecoin Payments
Bridge’s acquisition signals growing enterprise demand for crypto-native payment rails. Potential impacts:
- Accelerated stablecoin adoption in Africa/Latin America.
- Mainstream bridges between traditional finance and DeFi.
FAQ
Q: Why did Stripe acquire Bridge?
A: To expand its crypto payment offerings after launching USDC support in 150+ countries.
Q: How does Bridge differ from traditional payment processors?
A: It specializes in low-cost, cross-border stablecoin transfers with regulatory compliance baked in.
Q: Can businesses earn yield on stablecoin reserves?
A: Yes—via Bridge’s U.S. Treasury-backed reserve models.
👉 Explore Bridge’s role in Web3’s financial evolution
Sources: TechCrunch, Fortune, Conviction Finance (hyperlinks removed per guidelines).
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- **Depth**: Expanded with founder bios, use cases, and future outlook.