In a major move toward expanding its cryptocurrency capabilities, Stripe is set to acquire Bridge, a stablecoin payment platform, for $1 billion. Bridge offers businesses and governments the infrastructure to send and receive stablecoins like USDC and Tether, facilitating cross-border transactions and financial inclusion.

This acquisition aligns with Stripe’s strategy to enhance global payment services. While exact executive compensation details remain undisclosed, Stripe’s CEO Patrick Collison has led the company’s aggressive push into crypto since 2022. Bridge had previously raised $58 million from investors like Sequoia Capital and Index Ventures.

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