Bridge.xyz: Redefining Global Finance with Stablecoins
In an era where global financial transactions are often bogged down by high fees and slow settlement times, Bridge.xyz [1] is emerging as a transformative force in fintech. Headquartered in San Francisco, Bridge has developed a cutting-edge payments platform powered by stablecoins, designed to make money movement faster, cheaper, and more accessible worldwide. Since its inception, the company has gained significant traction, culminating in its acquisition by payments giant Stripe for $1.1 billion [4] in October 2024, marking the largest acquisition in Web3 history.
The Creation of Bridge
Bridge was founded in 2022 by Zach Abrams [2] and Sean Yu [3], two entrepreneurs with deep roots in fintech and blockchain. Both founders previously co-founded Evenly, a peer-to-peer payments platform acquired by Square (now Block) in 2013. After Evenly, Abrams served as Head of Consumer Products at Coinbase, where he led the development and launch of USDC, a leading dollar-backed stablecoin. Yu, meanwhile, worked as a staff software engineer at Airbnb, honing his expertise in scalable tech infrastructure. Their combined experience at Coinbase and Square gave them unique insights into the challenges of global payments and the potential of stablecoins to address them. Inspired to solve the inefficiencies of traditional financial systems, they launched Bridge to create a developer-friendly platform that simplifies stablecoin integration, aiming to “enable companies to use a stablecoin rail without thinking about it,” as Abrams noted in an interview with Fortune.
Financial Backing and Growth
Bridge’s vision has attracted substantial investment, with the company raising a total of $58 million in venture funding. A significant milestone came in March 2024, when Bridge secured $40 million in a Series A round led by Sequoia Capital and Ribbit Capital, with participation from Index Ventures, Haun Ventures, 1confirmation, and others. This funding, which valued the company at $200 million, has fueled its rapid expansion, with payment volumes reaching an annualized run rate of over $5 billion by August 2024. The company’s revenue is projected to hit a $500 million annual run rate in 2024, reflecting its growing adoption. The recent acquisition by Stripe [5], at a 5.5x premium over its Series A valuation, underscores Bridge’s strategic importance in the evolving fintech landscape.
The Team Behind Bridge
Bridge’s team is a powerhouse of fintech and blockchain expertise. Led by co-founders Abrams and Yu, the roughly 60-person team includes former Coinbase and Square alumni who bring deep knowledge of stablecoin development and payment systems. Marco Mahrus, Head of Revenue, previously held senior roles at Uber and corporate card startup Brex, contributing to Bridge’s go-to-market strategy. The team’s experience in scaling regulated financial products, such as USDC, has been instrumental in navigating the complex regulatory landscape, with Bridge securing money transmitter licenses in 48 U.S. states and a Virtual Asset Service Provider (VASP) license in Poland. This seasoned leadership has positioned Bridge as a trusted partner for clients ranging from startups to global enterprises.
Mission: A New Financial Paradigm
Bridge’s mission is to create a world where money moves as seamlessly as data, unshackled from the constraints of local currencies and outdated financial rails. The company aims to empower businesses and consumers by providing “true economic choice,” enabling them to save, spend, and transfer funds in stable currencies like USD and EUR, particularly in regions with volatile economies. As Bridge’s website states, “Where you’re born shouldn’t dictate your access to opportunity.” By leveraging stablecoins, Bridge seeks to solve real-world financial challenges, such as high-cost cross-border payments and limited access to global markets, making financial services more inclusive and efficient.
The Power of Stablecoins
Stablecoins, digital assets pegged to fiat currencies like the U.S. dollar, are the cornerstone of Bridge’s platform. Through its Orchestration and Issuance APIs, Bridge enables businesses to integrate stablecoin functionality effortlessly, handling compliance, security, and blockchain complexities behind the scenes. Companies can accept stablecoins like USDC, USDT, or PYUSD and settle in their own branded stablecoin or Bridge’s USDB, with reserves invested in U.S. Treasuries yielding over 5% annually. This not only ensures stability but also provides a financial incentive unavailable in traditional systems. Unlike conventional banking, which can take days and cost 3-4% per transaction, Bridge’s stablecoin-based transfers settle in minutes for fractions of a cent, revolutionizing global money movement.
Transforming Cross-Border Transactions
Bridge’s platform excels in simplifying cross-border payments, a process traditionally plagued by intermediaries, delays, and high fees. Businesses can use Bridge to send USDC from Brazil to China, enable Nigerian consumers to pay for global services like YouTube, or allow U.S. small businesses to accept PYUSD from international customers. Operating 24/7 on blockchain infrastructure, Bridge reduces costs to as little as 10% of traditional foreign exchange rails. In Latin America, Bridge powers virtual accounts for fintechs like DolarApp [6], enabling consumers to hold and spend USD seamlessly.
Serving a Diverse Customer Base
Bridge serves a broad spectrum of clients, from fintech startups to global corporations. Notable customers include SpaceX, Coinbase, Bitso, AIRTM, and DolarApp. Bitso leverages Bridge to power a Mexico-U.S. payment rail, while AIRTM facilitates real-time stablecoin payouts for aid and gig platforms. DolarApp uses Bridge to offer digital dollar access across LATAM, addressing currency instability. Stripe, a key partner before acquiring Bridge, integrated its APIs to simplify stablecoin payments for merchants, noting that stablecoin volumes surpassed its entire history of Bitcoin transactions in just one week. Bridge also supports government and aid organizations, disbursing funds efficiently to thousands. This diverse client base highlights Bridge’s ability to serve both emerging markets and established economies.
A Venture Poised for Impact
Bridge’s business model combines technological innovation with practical financial solutions. Its APIs abstract away the complexities of blockchain and compliance, enabling clients to focus on their core operations while tapping into stablecoin benefits. The platform’s integration with Stripe’s Stablecoin Financial Accounts, launched in 2025, allows businesses in 101 countries [7] to hold, receive, and send stablecoins alongside fiat currencies. A recent partnership with Visa enables fintechs like Ramp and AIRTM to issue cards linked to stablecoin wallets, usable at 150 million merchants worldwide. This “invisible” settlement layer, as described by Bridge’s Head of Product Mai Leduc, ensures merchants and consumers experience seamless transactions without needing to interact with crypto infrastructure directly. With a projected $500 million revenue run rate and billions in payment volume, Bridge is a linchpin in the global adoption of stablecoins.
The Future of Bridge
Following its acquisition by Stripe, Bridge is set to accelerate the global adoption of stablecoins, integrating its technology into Stripe’s vast ecosystem, which processed $1.4 trillion in payment volume in 2024. Stripe’s CEO Patrick Collison has called stablecoins “room-temperature superconductors for financial services,” signaling a bold push to make them a mainstream payment rail. Bridge plans to expand support for additional stablecoins and blockchains, enhance its card programs, and deepen its presence in regions like Africa and Latin America, where currency volatility drives demand for digital dollars. As regulators worldwide develop stablecoin frameworks, Bridge’s compliance-first approach and licenses in 48 U.S. states and Poland position it to navigate this evolving landscape. With its proven track record and Stripe’s global reach, Bridge is poised to redefine how money moves, making financial services faster, cheaper, and more inclusive for billions worldwide.