The latest payment giant to advance stablecoin adoption is Stripe, which announced the acquisition of start-up Bridge on Monday. The $1.1 billion acquisition was originally announced on Sunday by TechCrunch founder Michael Arrington on X and later confirmed by both Stripe and Bridge.

The Stripe acquisition of Bridge for a staggering $1.1 billion has underscored the growth of stablecoins as a payment method, says Bernstein.

Stripe Inc. co-founder and Chief Executive Officer Patrick Collison confirmed in a X post on Monday that the payments company plans to buy stablecoin startup Bridge. The deal, first reported by Bloomberg News on Oct.