TechFlow reports, on October 21, according to TheBlock, TechCrunch founder Michael Arrington said that payments company Stripe has acquired stablecoin platform Bridge for $1.1 billion. This marks Stripe's largest acquisition to date and the biggest acquisition in cryptocurrency industry history. Bridge had previously raised $58 million from investors and was valued at $200 million. Founded by entrepreneurs Sean Yu and Zach Abrams, Bridge provides software tools that help companies accept stablecoin payments. The founders previously sold Evenly, a Venmo competitor, to Block in 2013; Abrams is also a former senior employee at Coinbase. As previously reported by BlockBeats, Bridge has raised a total of $58 million in funding from investors including Sequoia, Ribbit Capital, Index, and Haun Ventures. Sequoia led Bridge’s recent $40 million Series A round.
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