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Record $1.1 Billion DealBridge, co-founded by Sean Yu and Zach Abrams, provides software tools enabling businesses to accept payments in stablecoins. The platform allows companies to create, store, send, and receive such assets.
Zach Abrams previously served as Head of Consumer at Coinbase and founded the peer-to-peer payments company Evenly, which was later acquired by Square. Before co-founding Bridge, Sean Yu held key engineering roles at major companies such as Coinbase, Square, DoorDash, and Airbnb. Earlier this year, the startup received $58 million in funding from prominent investors, including Sequoia, Haun Ventures, Ribbit, and Index Ventures. According to Forbes, thisa $40 million Series A funding round that valued the company at $200 million. It means that Stripe’s $1.1 billion acquisition is a major bump from Bridge’s previous worth.in a statement that its mission is to address the financial challenges posed by local currencies in an interconnected global economy.
Stripe has also integrated USDC on Base into its fiat-to-crypto onramp, allowing faster conversion of fiat funds to crypto for its U.S. customers. Coinbase also agreed to include Stripe as a payment option for customers buying digital assets through its Coinbase Wallet.passing $1 trillion in total payment volume for the year, with businesses using the platform accounting for roughly 1% of global GDP.
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