How New Stablecoin Startup Bridge Got Acquired by Stripe for $1.1 Billion - Ep. 764
Bridge co-founder Zach Abrams shares the story of how his dream of working with Stripe came true, how Bridge survived the black eyes of Terra/Luna and the USDC depegging, and why U.S. dollar-denominated stablecoins will remain dominant.
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Show Notes
In October, the crypto industry saw a jaw-dropping acquisition: Bridge, a stablecoin-focused company, was bought by Web2 payments giant Stripe for $1.1 billion.
Now, three months later, Bridge co-founder Zach Abrams opens up about the wild journey that led to this moment, from navigating collapses like Terra’s UST and USDC’s depegging, to securing compliance and fraud prevention as core priorities.
Zach also delves into his vision for the future of stablecoins, whether the U.S. dollar will continue to dominate, and why global financial infrastructure needs an upgrade.
Plus, he recounts how timing and resilience helped Bridge stand out amidst massive industry challenges.
Show highlights:
- 01:49The problems of the payments system and how stablecoins could solve them
- 13:35 What Bridge is, how it works and what types of consumers it serves
- 19:33 What significant inconveniences Bridge found throughout its journey
- 25:56 How Zach’s background in Coinbase influenced the launch of Bridge
- 30:20 Whether there will be multiple stablecoins or just a couple of winners
- 33:49 How Bridge worked with their customers to improve its product
- 39:35 The story of how Bridge was acquired by Stripe for $1.1 billion
- 46:37 Whether its dependence on banks is a problem for Bridge
- 53:02 How Bridge deals with fraud and compliance
- 59:50 What Zach thinks about the competition in the stablecoin landscape
- 1:04:37 Why Zach believes that the fiat infrastructure landscape is still Bridge’s main competitor
- 1:10:08 Whether the U.S. dollar will remain the overwhelmingly predominant currency in stablecoins
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Guest:
- Zach Abrams, Co-founder of Bridge
Links
- Recent coverage of Unchained on stablecoins:
- How This Stablecoin Business in Africa Is Taking on SWIFT and Big Banks
- Why Robinhood CEO Vlad Tenev Is Betting Big on Crypto, Stablecoins, and Prediction Markets
- CNBC: Stripe's $1.1 billion deal for crypto firm Bridge marks much-needed win for VCs
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