Cryptocurrency that is stable. With a transaction volume that keeps rising over the months, stablecoins—which are nearly as popular as Bitcoin or Ethereum—are emerging as the true stars of the ecosystem. Stablecoins are widely accepted, simple to use and comprehend, stable over time, and accessible globally. Traditional payment giants like Visa and Stripe are expanding their partnerships and experiments to keep up with the trend. Today, we’ll examine an unverified rumor that Stripe is set to purchase the Bridge platform, which is solely focused on stablecoins.
Stripe affirms its return to cryptocurrency with the possible acquisition of Bridge.
According to their website, Bridge, which was founded less than two years ago, provides creative solutions to “transform and improve the global monetary movement.” Their strong point is to concentrate on stablecoins. Stablecoins can now be moved and stored in dollars, euros, naira, or Mexican pesos with ease thanks to their turnkey solutions. Last August, Sequoia, a Web3 investment specialist, organized a funding round for the San Antonio, Texas-based startup that raised $58 million.
Stripe, a payment company that specializes in online transactions and was founded by brothers Patrick and John Collison, would be interested in Bridge’s activities. According to the American Economic Press, the company is currently in advanced discussions with the stablecoin specialist’s management. After a few years of vacillating in the cryptocurrency space, Stripe appears to have made a formal announcement this week that it would now accept transactions in USDC as well as Ethereum, Solana, and Polygon.
The use of stablecoin payments is growing in popularity globally
The stablecoin industry is undoubtedly flourishing, and a lot of businesses are beginning to give starting their own a serious consideration. While Société Générale-FORGE has introduced the EURCV in Europe, PayPal has offered the PYUSD, and there have been reports of Robinhood launching a similar scheme. Tether and its USDT continue to dominate this market, and the corporation makes so much money from it that it is unsure of where it will be able to invest it!
Stripe would take a hit by combining the strength of its global network with Bridge’s technological solutions, enabling millions of merchants to accept cryptocurrencies and hundreds of millions of users to use stablecoins to pay for their online purchases. If the information reported by Bloomberg is verified soon, it will be another step toward worldwide acceptance.
The rules, which vary from nation to nation and currently prevent stablecoins from moving freely, are the only drawback to the current situation. As a result, Tether’s USDT is still unregulated in Europe, and its future is uncertain given that the biggest platforms in the world intend to delist it shortly in order to comply with the MiCA rule.
