Key Takeaways:
- Bridge, a crypto startup, raised $40 million in a new funding round, totaling $58 million in capital.
- The funding will help Bridge build a global stablecoin-based payments network.
- Bridge aims to simplify stablecoin integration in business transactions, with clients like SpaceX and Coinbase.
Bridge, a crypto startup founded by former Square and Coinbase executives Zach Abrams and Sean Yu, has secured $40 million in a new funding round, raising its total capital to $58 million.
Led by Sequoia and Ribbit, the funding aims to support Bridge’s vision of creating a global stablecoin-based payments network.
FOLLOW-UP ARTICLE: Bridge (@StableCoin) raises $58 million in funding to build a stablecoin-powered payment platform. Backed by top venture firms, the platform offers cross-border payments and more. More details:
— BSCN (@BSCNews) August 30, 2024
🔗https://t.co/ODbAxQVBr9 https://t.co/FbN7adcX3m
The company focuses on simplifying the integration of stablecoins, which are cryptocurrencies pegged to traditional assets like the U.S. dollar, into business transactions.
Bridge’s platform is designed to allow companies to use stablecoins seamlessly, overcoming challenges such as accessing traditional financial systems and facilitating cross-token transfers.
Bridge, a new stablecoin network founded by ex-Square and Coinbase execs, just got $58M in funding to take on traditional systems. But honestly, will it make any real difference? 🤔 #Skeptical #Fintech https://t.co/ITj3LgdGRg
— Satoshi Club Alerts (@satoshi_alerts) August 30, 2024
The startup’s clients include SpaceX and Coinbase, and it aspires to be the Web3 equivalent of payments giant Stripe.
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