Stablecoin startup Bridge raises $58M

Bridge, a stablecoin payments startup founded by former Coinbase executives, has raised a total of $58 million in a funding round led by Sequoia Capital and Ribbit Capital. According to Fortune Crypto, Bridge offers its own stablecoin on- and off-ramp (crypto-to-fiat currency conversion) solution and processes over $5 billion in payments annually. It has reportedly secured clients including SpaceX and Coinbase. The investment will be used to secure licenses and comply with regulations.