Bridge, a stablecoin company, has announced the acquisition of Triangle, a web3 wallet platform, in a deal worth $1.1 billion. Triangle, founded by former Stripe employee Tasti Zakarie, will now be joining forces with Bridge to work on developing scalable stablecoin systems. The financial terms of the acquisition were not disclosed.
Tasti Zakarie, the CEO of Triangle, expressed his excitement about the acquisition, highlighting the inspiration his company drew from Stripe in making it easy to accept payments in any application. Triangle’s focus on enabling the use of digital assets in various applications has resonated with investors, including Chamath Palihapitiya of Social Capital, Alchemy Ventures, DCG, and WndrCo.
The acquisition comes at a time when Bridge itself is the subject of a takeover bid by payments giant Stripe. This acquisition marks the largest crypto deal by a major payments company to date, underscoring the growing interest in the cryptocurrency industry.
Triangle’s developer API has been instrumental in allowing companies to provide wallets to users with varying levels of technical expertise, thereby expanding the user base for digital assets. The expertise and technology brought by Triangle will complement Bridge’s efforts to enhance its stablecoin infrastructure.
The acquisition of Triangle is a strategic move for both companies, as they seek to capitalize on the increasing demand for digital asset solutions in the market. With the backing of prominent investors and the support of Stripe, Bridge and Triangle are well-positioned to drive innovation in the cryptocurrency space.
As the cryptocurrency industry continues to evolve, partnerships and acquisitions like the one between Bridge and Triangle will play a crucial role in shaping the future of digital finance. The combined expertise and resources of both companies are expected to lead to the development of innovative solutions that will benefit users and businesses alike.
