Investing.com-- Payments firm Stripe Inc is in advanced talks to buy stablecoin fintech platform Bridge, Bloomberg reported on Wednesday, potentially marking a bigger push into the steadily growing alternative payments technology.
No final decision had been made, the Bloomberg report said, citing people with knowledge of the matter.
Bridge recently raised $40 million in a Series A round, with venture capital firm Sequoia leading the round. The firm’s platform facilitates the creation, storage and transfer of stablecoins such as Tether’s USDT and Circle’s USDC.
Stripe has also been facilitating stablecoin transfers, amid increasing popularity of the technology as an alternative payments method. The firm last week said it will allow U.S. merchants to accepts crypto payments through USDC, after a six-year hiatus from digital tokens.
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