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.

Bridge, which has raised $54 million in funding, previously said it aspired to become the blockchain version of Stripe, operating a global system in which other developers could integrate

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