Stripe spends $1B buying a stable coin crypto platform

https://www.theblock.co/post/322144/stripe-acquires-stablecoin-platform-bridge-for-1-1-billion-in-cryptos-largest-acquisition-techcrunch

I think this is pretty telling, crypto is still in the shadows gaining steam and what Stripe will be able to do with Bridge is going to be really good for mass-adoption

I believe there are plenty of real-world business use-cases for crypto; it will take time though.

I wish Stripe had gone with Hedera, but I’ll continue to hodl. :sweat_smile:

Australia’s EFTPOS is on Hedera governing council.

Web3 is back into the hype-sphere! Now who can pull VR/AR back into the mainstream?!

Hedera is cool but I think it is a different problem. Stripe/Bridge are trying to reduce the barriers of entry for payment in any currency crypto or FIAT.

To fact check myself (and to test it out) I used the new search in ChatGPT. It visited 20+ pages and then said

Hedera and Bridge.xyz operate in distinct domains within the digital landscape.

Hedera is a public distributed ledger platform designed to provide a secure, scalable, and efficient infrastructure for decentralized applications and digital transactions.

It addresses challenges common in blockchain technologies, such as scalability and security, by utilizing its unique hashgraph consensus algorithm.

This allows Hedera to process thousands of transactions per second with low latency and minimal fees, making it suitable for a wide range of applications, from decentralized finance to supply chain management.

In contrast, Bridge.xyz focuses on facilitating stablecoin payments and providing APIs for developers to integrate stablecoin transactions into their applications.

It offers solutions for seamless conversion between fiat currencies and stablecoins, handling complexities like KYC and compliance.

This enables businesses to move funds globally in minutes, offering users the ability to save and spend in stable currencies like USD and EUR.

While both platforms aim to enhance financial transactions, Hedera provides the underlying decentralized infrastructure for various applications, including those in the financial sector.

Bridge.xyz leverages such infrastructures to offer specialized services in stablecoin payments and compliance, catering to developers and businesses seeking to integrate stablecoin functionalities into their platforms.

Pretty darn good I think

It is getting there but it is still a speck compared to AI, (AI companies attracted nearly 20 times more investment than Web3 startups in 2024).

VR/AR might need a few more years as well.

Ray-Ban Maker EssilorLuxottica Posts Revenue Increase But Misses Expectations

Ray-Ban Meta wearables was one of the strongest drivers of the quarter

Source

So, fundamentally different propositions. One is a highly scalable decentralised register for mission critical infrastructure projects, and the other is a universal KYC platform for those seeking to exchange fiat with stable coins.

I presume one of the key features of a business like that is that because one is simply converting the representation of a currency from one form to another, and that beyond transaction fees, there is no difference in holding value, individuals and businesses will have an easier time reporting to national governments. In a nutshell transactions between stable coins and Fiat currencies involve no capital gain or loss, by design.

Shared here as a reminder to self as much as anything. This I think will prove to be the starting point for some significant developments in the field of decentralised recordkeeping concerning mission critical infrastructure. You know, talking my own book.