Stripe Acquires Stablecoin Platform Bridge for $1.1 Billion
The significant event this week was Stripe's announcement of its acquisition of stablecoin platform Bridge for $1.1 billion.
Various analyses have explored the implications of this deal, particularly concerning Solana, the broader crypto ecosystem, and potential future merger and acquisition activity.
Stripe CEO Patrick Collison stated that “Stablecoins are room-temperature superconductors for financial services,” highlighting their potential to enhance speed, coverage, and cost efficiency in business operations. He emphasized Stripe's commitment to developing superior stablecoin infrastructure.
Read more: Stripe aims to build ‘world’s best stablecoin infrastructure’ following Bridge acquisition
Empire co-host Santiago Santos commended Collison's statement, noting a disconnect between crypto's true potential and general public perception, which often views it as merely speculative.
Read more: Implications of Stripe’s $1.1B acquisition on Solana and crypto VC
Additionally, crypto custodian Komainu, backed by Nomura, announced its acquisition of Singapore-based Propine, although the deal amount remains undisclosed.
On the funding side, DeFi platform Azura announced a $6.9 million funding round coinciding with its launch.
Notable news:
- Shuttle Labs reported raising $6 million for Genius, a self-custodial crypto exchange, with participation from CMCC, Flow Traders, and Anthony Scaramucci’s SALT.
- MoonWalk Fitness announced a $3.4 million seed round led by Hack VC, with involvement from Binance Labs, Flowdesk, and Reciprocal Ventures.