Stripe in advanced talks to acquire stablecoin-focused fintech firm Bridge

On October 17th, Bloomberg reported that payment company Stripe Inc. is in deep negotiations to acquire financial technology platform Bridge. No final decision has been made yet and either party could still withdraw from the deal.

Bridge's platform is designed to allow companies to create, store, send, and receive stablecoins such as Tether's USDT and Circle's UDSC. According to Fortune magazine's report in August of this year, the startup has raised a total of $58 million in funding, with investors including Sequoia, Ribbit Capital, Index, and Haun Ventures.

Sequoia led Bridge's recent $40 million Series A funding round, emphasizing the market opportunity for stablecoins, which was to some extent created by initiatives from companies such as Stripe.

Neither party has responded to this matter at this time.