Payment processing giant Stripe has reportedly acquired stablecoin platform Bridge in a $1.1 billion deal, according to TechCrunch founder Michael Arrington. The deal had been in “advanced stages” from at least Oct.

Stripe is in talks to acquire stablecoin platform Bridge for a whopping $1 billion, according to Forbes. The talks are reportedly in advanced stages,

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.