The Ledger
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Collison: Klarna is the first bank to launch a stablecoin on Tempo
“Klarna, whose CEO was once a self-proclaimed crypto skeptic, became the first bank to launch a stablecoin, Klarna USD, on the Tempo testnet, using Bridge's open issuance to facilitate faster and cheaper cross-border settlement.”
SpaceX uses Bridge to repatriate Starlink revenue via stablecoins, says Abrams
“SpaceX came to us, they're selling Starlink all over the world. And so as a result, they're collecting local, so people are paying for Starlink and, you know, dozens, many dozens of different countries with their cards. So they're getting local currencies in a…”
Privy required the ability to support Stripe's competitors during M&A talks
“And this was a part of the conversations that we had at Privy when talking to Stripe about M&A, which was like, what are conditions under which we think we can be successful here? And I think one of them was the need to be able to work with competitive endeavo…”
Acquired startups that remain entirely independent create negative synergy, says Abrams
“If you totally stay independent and you don't do any form of integration, there is like, One plus one equals maybe two, but probably less than two. Almost certainly, like, definitionally, you are setting yourself up for less than two.”
Stern: Bundling with Stripe and Bridge turns 10-year roadmaps into 2-year roadmaps
“There's deep value to bundles and to being able to layer our software with stablecoin orchestration, stablecoin issuance, with traditional fiat money movement and rails, with the networks that Stripe has built across like, you know, marketplaces and merchants.…”
Collison: SpaceX uses Bridge for Starlink fund repatriation in emerging markets
“SpaceX uses Bridge to repatriate funds from Starlink sales in Argentina, Nigeria, and other markets.”
Collison: Stripe-acquired Bridge saw stablecoin volume more than quadruple
“Bridge, the stablecoin orchestration platform we acquired, saw volume more than quadruple.”
Abrams: Bridge issues stablecoins with Phantom, MetaMask, and Hyperliquid
“And today we're issuing stablecoins with Phantom, we're issuing stablecoins with MetaMask, we're issuing stablecoin for Hyperliquid.”
Abrams: Open-source stablecoin rails will outperform traditional financial stacks over time
“The companies who are building on top of this are behind today, but basically making a bet that the cumulative power of all the builders in the world is going to create a better application over N years.”
Stripe needed Bridge and Privy to advance in crypto, says Collison
“At some level, Bridge and Privy make me much more bullish on M&A, because we had an idea going in, and Stripe was very much taking crypto and stablecoins seriously, and there's no way we would collectively be where we are now or there's no way Stripe would be …”
Abrams: Bridge considered wallet-as-a-service before rejecting it as a competitive tar pit
“One of our first ideas was to build wallets as a service, and which was obviously your business. At the time, I don't think that You, maybe you existed, but at least it wasn't, you weren't on our radar at all. And I remember looking at the space and being like…”
Abrams: Joining Stripe gives Bridge's issuance platform a different customer base
“I mean, there's just a lot of things like our stablecoin issuance platform that we just launched, an amazing opportunity. We could launch that as an independent business, but it is a very different opportunity, a very different set of customers that are intere…”
Bridge took 18 hours to disburse tens of thousands of aid payments
“First time we did an aid payment disbursement, we were working with the US government to disperse aid payments into LATAM. We were sending tens of thousands of payments, which was like a lot for us. It's not that much for Stripe. It took us like 18 hours to se…”
Abrams: Bridge originally planned to facilitate NFT purchases via bank accounts
“The first idea we had was using your bank account to acquire NFTs.”
Lütke: Shopify lets merchants accept stablecoins settled directly into USD via Bridge
“Through, like, the work that Bridge is doing, we can settle into US dollars directly. So the merchants They've just gained a new ability without having to make a strategic choice to go into a new industry.”
Bridge was founded just before the Terra and FTX collapses
“20, 20, 23 is when we launched our APIs. 2022 is when we start, Sean and I started the company. And raised money, and then immediately after we raised money, Terra Luna happened, and then the whole space was nuked, and then FTX happened, and it was nuked again…”