Stripe and Advent Bid $53 Billion for PayPal, Linking Two Stablecoin Players

Payments company Stripe has offered to buy PayPal for $53 billion, teaming with private-equity firm Advent International on a bid that would bring together two of the companies pushing stablecoins into mainstream payments, according to Reuters.

Stripe and Advent offered $60.50 a share, about a 28% premium to PayPal’s close of $47.37 on Tuesday, Reuters reported, citing two persons familiar with the matter. PayPal has not responded to the offer, according to the report. The New York-listed company’s stock jumped over 17% to a high of $55.63 on the news.

Both companies sit among the mainstream financial firms wiring stablecoins into everyday payments. PayPal issues PYUSD, which ranks eighth by market cap among stablecoins at about $2.84 billion, according to data from CoinGecko.

Stripe built its early stablecoin work around Circle’s USDC and its Bridge unit, then moved to offer blockchain services more directly, developing its own network called Tempo. It also signed on to Open USD, a rival stablecoin effort backed by Mastercard, Visa and BlackRock. Buying PayPal would pull PYUSD and its user base into that effort.

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