Stripe closes $1.1 billion Bridge deal, prepares for aggressive stablecoin push
Patrick Collison, CEO and co-founder of Stripe, speaking at 2022’s Italian Tech Week in Turin, Italy.
Giuliano Berti | Bloomberg | Getty Images
SAN FRANCISCO — What started as a casual roundtable at Stripe’s headquarters to discuss issues facing fintech companies turned into a billion-dollar acquisition that could become a defining moment for the industry.
Last summer, Stripe hosted Wally Adeyemo, who was then deputy secretary of the Treasury Department, for a chat with a number of financial services providers. Among the attendees were Stripe CEO Patrick Collison and Bridge co-founder Zach Abrams. The two entrepreneurs had never met.
Abrams, whose startup specialized in stablecoin infrastructure, said the session surprised him, as it quickly morphed into a conversation specific to his company.
“It was shocking to me,” Abrams told CNBC this week, recalling the event. The group “spent 90-plus percent of the meeting talking about stablecoins — even though we were the only stablecoin company” in the room, he said.
By the end, Bridge was firmly on Stripe’s radar. Months later, that initial meeting led to Stripe’s biggest acquisition to date, a $1.1 billion purchase of Bridge. The deal, which closed Tuesday after clearing regulatory hurdles, gives Stripe a firm foothold in crypto, a market where it previously struggled to gain traction.
“In the course of us spending time together, he probably developed more of an understanding of our business,” said Abrams, who co-founded Bridge in 2022. “And I think there was a growing excitement around the ways that our business can grow, and probably the ways our business could help support and grow the Stripe ecosystem.”
Bridge’s roughly 60-person team convened in San Francisco on Tuesday for the official onboarding. The newcomers were introduced to Stripe’s culture with a crash course on how to write like a Stripe employee and an intro to the business from Collison.
It’s all part of Stripe’s standard fintech boot camp, a program that runs every two weeks for new hires.
Bridge focuses on making it easier for businesses to accept stablecoin payments without having to directly deal in digital tokens. Stablecoins are a type of cryptocurrency whose value is pegged to the value of a real-world asset, such as the U.S. dollar. Customers include Coinbase and SpaceX.
Companies across the financial services landscape, from legacy banks to startup payment providers, are adopting stablecoins or exploring launching their own because they make it easier and cheaper to switch between currencies and to move money digitally. Standard Chartered predicted in a recent report that stablecoins could grow to become about 10% of foreign exchange transactions, up from 1% today.
Prior to Abrams’ first interaction with Collison at the roundtable, Bridge had been aggressively courting Stripe as a customer, hoping to integrate its technology into the payment giant’s ecosystem. As the two CEOs spent more time together in the weeks that followed, Collison’s interest in Bridge deepened.
Previous failure
Stripe had already taken a shot at crypto — and failed. It was one of the first major fintech firms to support bitcoin payments in 2014, but pulled the plug in 2018, citing scalability issues and high transaction fees. Still, the company insisted at the time that it remained “very optimistic about cryptocurrencies overall.”
Stablecoins would be Stripe’s next foray. At its flagship Sessions conference in April, the company said it would enable merchants to accept stablecoins for online purchases. In its first week of the offering, Stripe saw more stablecoin volume than in its entire history of offering bitcoin transactions.
However, Stripe was still missing a key component to make it all work. It needed a way to seamlessly handle cross-border transactions.
That’s precisely what Bridge offered, said Neetika Bansal, Stripe’s head of money movement products.
“If you think about Stripe and what we’ve focused on for the past seven years — what I personally have focused on — it’s been about breaking down the barriers for global commerce,” Bansal told CNBC in an interview at Stripe’s office. “We’ve done it, to a large part, on traditional financial rails.”
Stripe’s approach to global payments for years involved navigating the complex regulatory and operational challenges in each market it entered. Bridge had developed “a super elegant solution to cross-border use cases” and had “meaningful traction with companies of all sizes,” Bansal said. “It just felt almost like a no-brainer to go and acquire them.”
Stripe paid a hefty price for a two-year old company, an amount that was about three times higher than Bridge’s valuation in a funding round in August.
Bansal framed the acquisition as a strategic step toward modernizing Stripe’s global money movement capabilities.
“We are working very closely together to figure out the right opportunities, where we should power our products with Bridge and, in fact, where we should do new product development on Bridge infrastructure,” she said. “That’s what the next few weeks look like.”
Stripe processes millions of cross-border transactions daily, a segment that’s growing 50% annually. Bansal said stablecoins could meaningfully reduce costs and streamline transactions compared to traditional financial networks.
Bansal used as an example a company in the U.S. paying a contractor in the Philippines, which she called “a common use case as company workforces are going global.”
Stripe has partnered with Remote.com, a global human resources and contractor platform, to process payouts using stablecoin infrastructure in more than 70 countries. Bansal said she sees stablecoins playing a growing role in foreign exchange and treasury management for large enterprises.
For now, Bridge will continue running its existing products, but the teams are working together to determine the best integrations and explore new products that can be built on Bridge’s technology.
“They’re clearly a leader in the space,” Bansal said about Bridge. “A lot of our conversations are about absorbing what Bridge has learned about stablecoins.”
WATCH: Fintechs soar after election
![From $189 a month: 5 of the best EV lease deals in November [Updated]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/07/Hyundai-new-IONIQ-6-EV-8.jpeg?resize=1200,628&quality=82&strip=all&ssl=1)
We’re now two months out from the end of the $7,500 federal EV tax credit on September 30, and there are still solid deals to be had on some pretty spiffy EVs. In fact, three of our top five November specials are cheaper than what was offered in September, and two come with home EV chargers and free installation. Here are November’s top 5 EV lease deals, as spotted by our friends at CarsDirect.
2025 Hyundai IONIQ 5 lease from $189/month
The updated 2025 Hyundai IONIQ 5 SE RWD Standard Range is still a standout EV lease deal, holding steady even after the end of the federal EV tax credit and new import tariffs. Through December 1, you can lease one for $189 a month for 36 months (10,000 miles per year) with $3,999 due at signing. That works out to an effective monthly cost of about $300.
The price bump is far smaller than many expected, especially considering Hyundai’s $17,000 in lease cash. And if you’re tempted by an upgrade, the SEL RWD trim is just $50 more per month under the same terms. You’ll get a model that’s roughly $7,000 more in value and $18,750 in savings. The IONIQ 5 SE RWD Standard Range offers an EPA-estimated 245 miles of range, and this particular offer is available in the Los Angeles and greater California metro areas.
Click here to find a local dealer that may have the Hyundai IONIQ 5 in stock. –trusted affiliate link
2025 Hyundai IONIQ 6 lease from $189/month
The 2025 Hyundai IONIQ 6 SE RWD Standard Range is tied with the IONIQ 5 for the most affordable EV lease deal this month, offering standout value even after the federal EV tax credit era. In the California metro area, you can lease it for $189 per month for 36 months (10,000 miles per year) with $3,999 due at signing, and Hyundai is sweetening the deal with $13,000 in lease cash.
That brings the effective monthly cost to around $300. With an EPA-estimated 240 miles of range, 149 horsepower, fast-charging capabilities, and a sleek, distinctive design, the IONIQ 6 remains a fan favorite. This offer is valid through December 1.
Click here to find a local dealer that may have the Hyundai IONIQ 6 in stock. –trusted affiliate link
2025 Ford Mustang Mach-E from $219/month
The 2025 Ford Mustang Mach-E Select RWD with Package 100A is offering bigger savings this month, making it an even stronger pick for EV shoppers. Known for its premium design and an EPA-estimated 300 miles of range, the Mach-E remains a favorite among drivers who want style and substance.
You can now lease it for $219 per month for 24 months (10,500 miles per year), with a down payment of $4,499 due at signing. That’s $20 less per month than the September advertised deal, although the term is shorter. With an effective monthly cost of around $406, it’s only $45 more than before the tax credit ended.
The offer includes $6,750 in lease cash for qualified lessees, plus a free Ford Charging Station Pro with complimentary home installation – a rare perk. If you already have a home charger, you can opt for an additional $2,000 in bonus cash instead. This deal is currently available in California through January 5, 2026.
Click here to find a local dealer that may have the Ford Mustang Mach-E in stock. –trusted affiliate link
2025 Honda Prologue from $239/month
Until January 5, the 2025 Honda Prologue, with a 308-mile range, can be leased for $239 a month for 36 months (10,000 miles) and $1,199 due at signing in Connecticut, Massachusetts, and Maryland. That means the Prologue has an effective monthly cost of $272, making it a great value.
For those in California and other CARB-emission states, you can lease for $279 for 36 months (10,000 miles) and $1,299 due at signing, resulting in an effective monthly cost of $315. This was the best-priced lease deal before the new East Coast three-state offer.
The price includes a $3,300 loyalty discount or conquest cash, available only to those currently leasing a Honda or planning to switch from another manufacturer in select states. If you aren’t living in California, Florida, New York, or other select states, you’re still eligible for a bonus of $2,000.
These bonuses are stackable with the $5,000 dealer cash, $8,250 Honda lease cash, and a $1,500 additional lease bonus, which replaces the $7,500 tax credit.
Click here to find a local dealer that may have the Honda Prologue in stock. –trusted affiliate link
2025 Ford F-150 Lightning from $279/month
You can now lease a 2025 Ford F-150 Lightning 4×4 Super Crew XLT w/ Pkg 311A for a low monthly payment of $279 for 36 months (10,500 miles) and $6,729 due at signing. With an MSRP of $65,190, that makes the effective monthly cost of $466. It has an EPA-estimated range of 240 miles and 452 hp.
That’s $23 less a month than the advertised September lease deal with the federal tax credit. The offer includes $9,500 in lease cash and, like the Mach-e, a complimentary home EV charger and installation or an additional $2,000 in savings. This offer is available in California through January 5, 2026.
Click here to find a local dealer that may have the Ford F-150 Lightning in stock. –trusted affiliate link
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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The new Nexo is a significant upgrade over the first model, but will Hyundai’s fuel cell EV make an impression in the US?
Meet the new Hyundai Nexo fuel cell EV
Hyundai is launching a slate of new vehicles, ranging from EVs to plug-in hybrids (PHEVs) and even fuel-cell electric vehicles.
First launched in 2018, the Nexo marked a milestone as Hyundai’s first dedicated hydrogen fuel cell vehicle. Although it wasn’t exactly a hit due to the lack of hydrogen fueling stations, especially in the US, Hyundai is taking another crack at the market with its new and improved fuel cell EV.
Hyundai introduced the new Nexo earlier this year, claiming it’s “poised to set a new standard for zero-emission transportation.”
With significant upgrades to its fuel cell and power electronics systems, the new Nexo features up to 190 kW total output and a WLTP driving range of up to 513 miles (826 km) from a five-minute hydrogen refill.
It also boasts features such as Active Noise Control, road-noise-canceling tech, sound-absorbing tires, e-Handling, and a Smart Regenerative System (SRS), which delivers a smooth, quiet ride.
Inside, Hyundai’s new Connected Car Navigation Cockpit (ccNC) sits at the center, featuring dual 12.3″ driver cluster and infotainment screens. The setup includes OTA updates and wireless Apple CarPlay and Android Auto.
Like its battery electric vehicles, the new Nexo offers vehicle-to-load (V2L) capabilities, enabling you to power electronics on the go.
A digital center mirror and digital side mirrors are available in select markets (not the US), replacing the traditional mirrors. In addition, the European-spec version can tow up to 1,000 kg (2,200 lbs), the first fuel cell EV to offer that level of capability.
The Nexo is 4,750 mm long, 1,865 mm wide, and 1,640 mm tall, with a wheelbase of 4,750 mm, or about the size of a Honda CR-V.
Although Hyundai is committed to expanding FCEV infrastructure, it might not be enough to lure buyers in the US.
Hyundai said the new Nexo fuel cell EV is already a hit in South Korea, where hydrogen fueling stations far outnumber those in the US. The company sold nearly 7,000 new Nexo models globally through August, more than four times the previous generation’s sales in the same period last year.
Will the new and improved Nexo make a bigger impact? According to Car and Driver, which test drove the updated FCEV, “the compact Nexo will need far more than clever engineering to make it big in the US.” In Hyundai’s home market, it’s already proving more popular.
Hyundai will launch the new fuel cell EV in other global markets starting in early 2026.
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Environment
Aptera is building an assembly line for validation solar EVs en route to scaled manufacturing
Solar EV startup Aptera Motors continues to inch closer to scaled manufacturing of its flagship vehicle, with a new validation assembly line being installed at its headquarters.
The last thirty days or so have been busy for Aptera Motors – “little engine that still might” in the nascent (and lonely) segment of solar EV startups. Last month, the startup finally went public, opting for a direct listing on the Nasdaq instead of an IPO or SPAC merger.
As reported by Electrek’s Fred Lambert, this move was somewhat concerning for Aptera, as it will not directly benefit the company financially from the stock listing. Furthermore, Aptera consistently seems to be paving the financial runway directly in front of it, enabling it to keep pushing forward. Per the startup’s recent SEC filing:
This prospectus relates to the registration of the resale of up to 31,741,948 shares of our non-voting Class B common stock… We will not receive any proceeds from the sale of shares of Class B common stock by the registered stockholders.
However, right before going public as $SEV, Aptera announced a large chunk of equity financing to continue solar EV development and get its assembly lines up and humming. Per the company:
Aptera Motors Corp. (“Aptera”), the solar mobility company focused on developing highly efficient vehicles, today announced it has entered into share purchase agreement providing for up to $75 million of committed equity financing (the “ELOC”) with New Circle Principal Investments LLC, an affiliate of leading growth-focused investor New Circle Capital.
Less than a month later, Aptera’s team is pushing forward with another development milestone – building out its validation vehicle assembly line, which lays the groundwork for future scaled solar EV production.
Aptera is laying the foundation for scaled SEV assembly
According to a press release posted by Aptera this morning, the building of its validation assembly line is now underway in Carlsbad, California. In addition to assembling full-fledged validation vehicles, Aptera can now transcend from unsystematic prototype builds to a more structured assembly process that is scalable and repeatable. Apter co-founder and co-CEO, Steve Fambro, shared a similar sentiment:
Seeing this line come to life signals the next phase for Aptera,” added Steve Fambro, Co-CEO. “It’s the bridge between our prototype builds and the preproduction and series production systems that we aim to one day use to deliver solar mobility at scale.
Seeing this line come to life signals the next phase for Aptera. It’s the bridge between our prototype builds and the preproduction and series production systems that we aim to one day use to deliver solar mobility at scale.
As you can see in the images above, Aptera is stockpiling key components for validation assembly processes, including body-in-carbon (BinC) parts. Per the SEV startup a large-scale precision assembly fixture is the heart of its new validation line, enabling the vehicle’s BinC)to be built with “exceptional dimensional accuracy.”
The fixture will also serve as the baseline for future low-volume production vehicle assembly. This pending process will not only give Aptera techs the first opportunity to establish defined steps in assembly. Still, it will also offer a proving ground to optimize those processes, from component handling to final fit and finish. Aptera’s other CEO, Chris Anthony, also spoke about the latest development milestone:
This marks an important moment in Aptera’s journey. For the first time, our technicians will be assembling vehicles along a defined sequence of stations, using processes developed hand-in-hand with the engineers who designed them.
With vehicle materials now in stock, Aptera has officially begun assembling validation vehicles through its repeatable process en route to pre-production. Then, God willing, bona fide customer vehicle builds will follow. Hold your horses, though, because Aptera still needs more money to get there.
We often celebrate Aptera for its transparency, which is evident in its latest press release, in which the startup announced that it will require an additional $65 million in funding to continue through this new validation assembly stage and into low-volume production.
As always, the deck is stacked against this solar EV startup, but it continues on, and we love to see it. Remember, you can still reserve an Aptera solar EV for only $70 down if you use this link.
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