Stripe acquires stablecoin platform Bridge for $1.1 billion, marking the largest acquisition deal in the crypto space

according to The Block, TechCrunch founder Michael Arrington posted on X that the payment company Stripe has acquired the stablecoin platform Bridge for $1.1 billion.

Bridge is Stripe's largest acquisition to date and the biggest acquisition in the history of the crypto industry. Bridge previously raised $58 million, including a $40 million Series A round at a valuation of $200 million.

Bridge was founded by entrepreneurs Sean Yu and Zach Abrams, providing software tools to help businesses accept stablecoin payments. The two founders previously sold Evenly, a competitor to Venmo, to Block in 2013; Abrams is also a former senior employee at Coinbase.