According to Bloomberg on Tuesday, citing sources familiar with the matter, the fintech company Stripe, which has been actively expanding into cryptocurrency and stablecoin businesses in recent years, is considering acquiring all or part of PayPal’s digital payments business.
The report states that Stripe, a private company, has expressed preliminary interest in acquiring this pioneer in digital payments or some of its assets. However, discussions are still in the early stages, and it is uncertain whether a deal will ultimately be reached.
On Tuesday, Stripe announced it will go public with a share buyback program, offering current and former employees the opportunity to cash out their shares. The company’s valuation is estimated at $159 billion. It is reported that Stripe plans to use its own funds for the share repurchase, with investments from firms like Thrive Capital, Coatue, and a16z also supporting the initiative.
Meanwhile, the once-dominant PayPal, which led the online shopping boom and promoted digital wallets in the late 1990s, has seen its market share and technological lead gradually erode in recent years due to rising competitors like Stripe, revealing signs of decline.
Both PayPal and Stripe have shown strong interest in cryptocurrencies, especially stablecoins.
Last year, Stripe acquired the stablecoin platform Bridge, which has received preliminary approval from the Office of the Comptroller of the Currency (OCC) and may become a federally chartered bank in the future.
On the other hand, PayPal partnered with Paxos in 2023 to launch the PYUSD stablecoin, which currently has a market cap of about $3.8 billion and is the largest USD stablecoin issued under the U.S. federal regulatory framework.
A recent survey by PayPal indicates that nearly 85% of respondents expect cryptocurrency payments to become a daily norm within the next five years. The company also announced plans to launch a new peer-to-peer (P2P) payment feature and expand support to include Bitcoin, Ethereum, and stablecoin transactions.
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