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Ukrainian fintech startup Bridge, founded by Zach Abrams and Sean Yu, has successfully completed an investment round, raising $58 million to develop its innovative platform specializing in payments in stablecoins. The investment came from leading venture capital funds, including Sequoia Capital, Ribbit Capital, Haun Ventures and Index Ventures. This was reported by the Fortune publication with reference to the company’s press release.
Global ambitions and technological breakthrough
The main goal of Bridge is to create a global payment network that can compete with traditional financial systems such as Swift and credit cards. The Bridge platform allows businesses to transact in stablecoins — cryptocurrencies tied to the value of traditional assets, which ensures stability and predictability of payments. This solution will be key for companies seeking to minimize transaction costs and speed up the payment process.
Fintech as a rational choice
Zach Abrams, co-founder of Bridge, points out that success in the fintech industry depends on the ability to do things faster and cheaper. “If you can do something faster and cheaper, you win,” says Abrams, emphasizing that rationality and efficiency are the main principles of the development of modern financial technologies.
Influential clients and network expansion
Bridge already has several influential clients, among which the technology giant SpaceX, owned by Elon Musk, stands out. SpaceX uses the Bridge platform to raise funds in different regions and transfer assets to the company’s global coffers. In addition, Bridge cooperates with such projects as Stellar and Bitcoin Strike, which opens new horizons for further expansion of the client base.
The future of payment systems
The raised $58 million will allow Bridge to accelerate platform development and enter new markets, cementing its position as a leading player in stablecoin payments. This project has every chance to change the rules of the game on the global financial market, offering businesses and consumers faster, cheaper and more reliable solutions for making international payments.
