Stripe is in talks to acquire stablecoin platform Bridge for a whopping $1 billion, according to Forbes. The talks are reportedly in advanced stages, although nothing has been finalized.
Bridge, cofounded by Coinbase alumni Zach Abrams and Sean Yu, has built an API that helps companies accept stablecoins. The pair raised $58 million from investors like Index Ventures and Sequoia Capital, according to PitchBook. If the deal with Stripe goes through, it would be a huge jump from Bridge's $200 million valuation, as well as being Stripe's largest acquisition to date.
Stripe has made it clear that crypto is a huge priority for the company. In July, it enabled crypto purchases in the EU, and earlier this month, Stripe announced a Pay with Crypto feature that lets merchants accept stablecoins.