Stripe Acquires Bridge (@Stablecoin) for $1.1B in One of Crypto's Largest M&A Deals, Spotlighting Stablecoin Market's $172B Surge

Oct 21, 2024, 02:11 PM

Stripe has acquired Bridge, now rebranded as @Stablecoin, a leading stablecoin company, for $1.1 billion, marking one of the largest mergers and acquisitions in the cryptocurrency industry. The deal underscores the growing importance of stablecoins, such as USDT and USDC, which now account for 50% of all crypto transactions and have a combined market capitalization of $172 billion. USDT's market cap has grown to $119 billion this year, up from $92 billion, solidifying its position as the backbone of liquidity in the crypto space. Industry leaders believe this acquisition will accelerate the adoption of stablecoins and could signal a wave of similar deals in the future, with some predicting significant mergers and acquisitions in 2025. The acquisition has been praised by many in the industry, highlighting the recognition of stablecoins as a critical component of the crypto ecosystem.