Stripe Confirms Plans to Acquire Stablecoin Platform Bridge (1)

Stripe Inc. co-founder and Chief Executive Officer Patrick Collison confirmed in a X poston Monday that the payments company plans to buy stablecoin startup Bridge.

The deal, first reported by Bloomberg News on Oct. 16, is still subject to regulatory approvals and closing conditions. The parties expect to complete the transaction in coming months, according to a separate post from Bridge’s X account.

Stripe will pay $1.1 billion, according to a person familiar with the matter who asked not to be identified discussing private information. A spokesperson for Stripe declined to comment on a purchase amount.

Stablecoins are ...