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Cryptocurrency News Articles
Stripe's $1.1B Acquisition Target, Bridge, Buys Web3 Wallet Platform Triangle
Nov 01, 2024 at 08:00 pm
Bridge acquired Triangle for an undisclosed amount.
Web3 wallet platform Triangle has been acquired by stablecoin payments platform Bridge, the latter company announced in a press release on Friday.
As part of the deal, the Triangle team will join Bridge in an effort to build scalable stablecoin systems, the company said. Financial details of the transaction were not disclosed.
Founded by Stripe alumni Tasti Zakarie, Triangle is a web3 wallet infrastructure platform. The company’s technology enables non-technical teams to build wallets for their users and bring more users onchain.
Bridge, meanwhile, is a stablecoin company that is being acquired by Stripe for a reported $1.1 billion, marking the largest crypto acquisition by a major payments company to date.
"Triangle was inspired by Stripe in how easy they made it to accept payments in any application," Triangle founder and CEO Tasti Zakarie said in emailed comments. "Similarly, we made it easy to utilize digital assets in any application."
Triangle is backed by investors including Social Capital, Alchemy Ventures, DCG and WndrCo.
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