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.”
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Hyundai is keeping the savings going after extending its EV deals yet again. With leases starting as low as $179 a month, the Hyundai IONIQ 5 is hard to pass up right now.
Hyundai extends IONIQ 5, IONIQ 9 lease deals
After a “breakout” month for IONIQ 5 sales in August, Hyundai looks to keep the momentum rolling. At least for another month.
The Hyundai IONIQ 5 remains a top-selling EV in the US, and might be your best bet if you’re looking to go electric.
Through its Hyundai Getaway sales event, the 2025 IONIQ 5 was listed for lease for as low as $179 per month in August. Although the deals were set to end on September 2, Hyundai has extended them until the end of the month.
The 2025 IONIQ 5, now with more range, an NACS port, and a stylish new design, can still be leased for just $179 per month.
That’s for the Standard Range SE trim with a driving range of 245 miles. The extended range IONIQ 5 SE, with up to 318 miles of range, is available from $199 per month.
You can even snag the souped-up XRT trim for under $300 a month right now. All the offers are for a 24-month lease with $3,999 due at signing.
The deals include the $7,500 EV Lease Bonus, which is also set to expire at the end of September. With the bonus, the net cap cost drops to just $24,380 (SE Standard Range RWD model).
| 2025 Hyundai IONIQ 5 Trim | EV Powertrain | Driving Range (miles) | Starting Price* | Monthly lease price September 2025 |
| IONIQ 5 SE RWD Standard Range | 168-horsepower rear motor | 245 | $42,500 | $179 |
| IONIQ 5 SE RWD | 225-horsepower rear motor | 318 | $46,550 | $199 |
| IONIQ 5 SEL RWD | 225-horsepower rear motor | 318 | $49,500 | $209 |
| IONIQ 5 Limited RWD | 225-horsepower rear motor | 318 | $54,200 | $309 |
| IONIQ 5 SE Dual Motor AWD | 320-horsepower dual motor | 290 | $50,050 | $249 |
| IONIQ 5 SEL Dual Motor AWD | 320-horsepower dual motor | 290 | $53,000 | $259 |
| IONIQ 5 XRT Dual Motor AWD | 320 horsepower dual motor | 259 | $55,400 | $359 |
| IONIQ 5 Limited Dual Motor AWD | 320-horsepower dual motor | 269 | $58,100 | $299 |
Hyundai also extended the offers for its new three-row electric SUV, the IONIQ 9. Leases for the 2026 Hyundai IONIQ 9 start at $419 per month. If you choose to finance it, Hyundai is offering a $5,000 cash bonus on all trims.
Both the 2025 IONIQ 5 and 2026 IONIQ 9 are built at Hyundai’s EV plant in Georgia, enabling them to qualify for the $7,500 federal tax credit. With the credit set to expire at the end of September, the savings will likely disappear. It will be up to the automakers to step in with significant incentives to keep lease prices as low as they are.
Want to lock in the deals before they are gone? Check the links below to find local offers on the 2025 Hyundai IONIQ 5 and 2026 IONIQ 9 in your area.
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Costco members looking for a break on car prices can tap into a new Volvo deal this fall. Members can tap into limited-time manufacturer incentives through the Costco Auto Program, a year-round auto-buying service that secures prearranged low pricing. The latest: a Certified by Volvo Limited-Time Special launched this week.
Certified by Volvo vehicles are pre-owned Volvos that must pass a rigorous test with 170+ points, have less than 80,000 miles, and receive a detailed CARFAX Vehicle History Report. They come with roadside assistance, and EVs and plug-in hybrids also include an 8-year/100,000-mile battery warranty.
Until October 31, 2025, eligible Costco members can score an exclusive bonus when buying select Certified by Volvo vehicles from model years 2022 through 2025.5. Gold Star and Business Members get $1,000 off, and Executive Members get $1,250 off. The offer applies to hybrids, plug-in hybrids, and BEVs. What makes this deal sweet is that the Costco perk stacks with any other manufacturer incentives you qualify for.
Among the vehicles on the eligible list: The Volvo EX30, the EX90, the XC90*, the most requested premium midsize SUV among Costco members last year, and the Volvo C40 EV, which also topped requests in the premium electric compact SUV category.
To cash in on the offer, Costco members must register online for a certificate, then bring it to a Volvo dealership where they present it at the time of purchase. Full details are on the Certified by Volvo Limited-Time Special page.
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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.
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The GV90 is set to arrive as the most luxurious Genesis vehicle to date. With its debut approaching, Genesis is showcasing the ultra-luxe SUV at its new flagship brand space.
Genesis opens new brand space based on the GV90
Although it’s not yet in production form, Genesis is still showcasing its stunning new full-size electric SUV. The Neolun concept, unveiled last March at the New York Auto Show, will soon arrive as the brand’s new flagship model.
When Genesis launches the GV90, expected in mid-2026, it will become the brand’s largest and most luxurious electric vehicle yet.
According to Genesis, the GV90 is “an ultra-luxe, state-of-the-art SUV” that will take the luxury brand to the next level. We’ve seen camouflaged prototypes out testing a few times, revealing advanced new features and luxury design elements, such as coach doors, adaptive air suspension, and more.
The GV90, or Neolun concept (for now, at least), is the centerpiece of the company’s new “Night in Motion” space, which Genesis opened on Thursday.
Based on the Neolun concept, the new exhibition is “the starting point of the Genesis brand’s spatial philosophy.” It’s designed to showcase the brand’s latest design and the beauty of Korean aesthetics.
Genesis is expected to launch the GV90 in mid-2026, but we could see an official debut before the end of the year.
We will learn prices, range, and other specs soon, but the GV90 is expected to debut on Hyundai’s new eM platform. Hyundai claimed the new platform will “provide 50% improvement in driving range” compared to current EVs. It will also offer advanced Level 3 autonomous driving features.
One thing is sure: The Genesis GV90 won’t be cheap. As its largest and most luxurious SUV, the GV90 is expected to start at around $100,000. Higher trim levels could reach upwards of $120,000 or more.
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