PayPal (PYPL) jumps 7% as Stripe reportedly weighs acquisition. Here is what it means for crypto
Stripe is reportedly considering acquiring all or part of PayPal, causing PayPal's stock to jump 7%.Summary
Bloomberg reported that Stripe, which has significant stablecoin and blockchain ambitions, is exploring a deal to acquire all or parts of PayPal (PYPL). This potential merger would combine two major payment processors that have both recently moved into the stablecoin space; PayPal launched its dollar-backed stablecoin PYUSD, and Stripe acquired Bridge to build tools for issuing dollar-backed tokens and is developing the Tempo blockchain.
PayPal's stock, which has fallen significantly from its 2021 highs, rose an additional 7% following the news, adding to gains from earlier buyout rumors. Stripe, valued at $159 billion after processing $1.9 trillion in transactions last year, is still in the early stages of deliberation regarding the acquisition.
(Source：CoinDesk)