Bridge describes itself as the Stripe of crypto, specializing in making it easier for businesses to accept stablecoin payments without having to deal directly with digital tokens.

Stripe, a payments infrastructure platform, has acquired stablecoin-based global finance platform Bridge for $1.1B. This deal provides liquidity for a variety of venture capital firms but, more importantly, provides an exit for the crypto sector, which is facing a lack of IPOs and acquisitions. Stripe also acquired a potential competitor that could disrupt in the future.

CNBC: Stripe’s $1.1 billion deal for crypto firm Bridge marks much-needed win for VCs