Former Square, Coinbase execs raise $58M for Bridge stablecoin network

Bridge seeks to build a global stablecoin payment network to rival traditional systems like Swift and credit cards.

Bridge, a global stablecoin payment network co-founded by former Square and Coinbase executives Zach Abrams and Sean Yu, has reportedly raised $58 million in funding.

Bridge, which aims to develop a global payment network around stablecoins and rival traditional payment systems like Swift and credit cards, received funding from Sequoia, Ribbit and Index, among other investors.

According to a Fortune report, Bridge secured $58 million in previous undisclosed funding, which includes a recent $40 million investment by Sequoia and Ribbit. Bridge’s current customer base comprises Coinbase and SpaceX. Explaining the strategy in an interview with Fortune, Abrams said:

Bridge seeks to build a global stablecoin payment network to rival traditional systems like Swift and credit cards.
Bridge, a global stablecoin payment network co-founded by former Square and Coinbase executives Zach Abrams and Sean Yu, has reportedly raised $58 million in funding. Bridge, which aims to develop a global payment network around stablecoins and rival traditional payment systems like Swift and credit cards, received funding from Sequoia, Ribbit and Index, among other investors.According to a Fortune report, Bridge secured $58 million in previous undisclosed funding, which includes a recent $40 million investment by Sequoia and Ribbit. Bridge’s current customer base comprises Coinbase and SpaceX. Explaining the strategy in an interview with Fortune, Abrams said:Read more