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,

Sources at Stripe say the deal hasn’t gone through but would not go on record. Payment processing giant Stripe has reportedly acquired stablecoin platform Bridge in a $1.1 billion deal, according to TechCrunch founder Michael Arrington.

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.