The payments giant says Bridge, its stablecoin arm, saw its transaction volume sky-rocket through last year as stablecoin adoption is decoupling from crypto cycles.
Stripe’s Bridge sees stablecoin volume quadruple as utility insulates from ‘crypto winter’
The payments giant says Bridge, its stablecoin arm, saw its transaction volume sky-rocket through last year as stablecoin adoption is decoupling from crypto cycles.
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The purchase announcement did little to the stock, which tumbled 70% on a late Thursday filing that allowed investors to sell shares.
The announcement comes amid the exchange posting a disappointing second-quarter with shares down more than 6% in post-market trading.
The experience, which is designed to feel like Venmo or Cash App, allows users to earn yield on bitcoin (BTC) and stablecoins and borrow against their holdings.
The move enhances Rootstock’s security while generating new revenue for Foundry.