STRIPE ACQUIRES STABLECOIN PLATFORM BRIDGE FOR $1.1 BILLION IN CRYPTO'S LARGEST ACQUISITION

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Payments company Stripe has acquired stablecoin platform Bridge for $1.1 billion in the largest acquisition in the crypto industry to date. Bridge was previously valued at $200 million. Stripe recently reinstated crypto payments for US businesses via USDC on Ethereum, Solana, and Polygon. It also inked a partnership with Coinbase that required Stripe to incorporate Coinbase's Base Layer 2 network into its crypto payment products and Coinbase to add Stripe as a way for its customers to buy crypto within its Coinbase Wallet.