Payments giant Stripe has boldly acquired the stablecoin firm Bridge for an impressive $1.1 billion, as reported by the founder of TechCrunch.

Michael Arrington, founder of TechCrunch, reports that payments giant Stripe has acquired the stablecoin startup Bridge.

In an X post referencing a report about Stripe’s discussions to acquire Bridge, the tech publication executive says the $1.1 billion purchase of Bridge is a done deal.

A Bloomberg report last week indicated that Stripe had been in talks to acquire the stablecoin firm, which offers a product that lets enterprises use the top stablecoins USDT and USDC to s…