Bridge, a global stablecoin payments network co-founded by former Square and Coinbase executives Zach Abrams and Sean Yu, announced a $58 million round of funding with participation from Sequoia, Ribbit and Index. The new round of funding, including $40 million led by Sequoia and Ribbit, will challenge traditional payment systems.
Bridge will provide seamless fiat-to-stablecoin conversions, facilitating the transfer of different stablecoins between blockchains. Bridge has processed more than $5 billion in annualized payments, and has partnered with high-end customers such as Elon Musk's SpaceX to help it receive payments in different regions and currencies, and transfer funds to its global treasury through stablecoins.
Stablecoin Payment Network Bridge Completes $58 million Funding
2024-08-29 16:36:03
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