What Would a Stripe + PayPal Merger Mean for Crypto?
Plus, DTCC goes live with tokenized-securities trades
Here are the biggest news in web3:
- Stripe makes a $53B bid for PayPal
- The DTCC begins live RWA trades with 24+ firms
- Ostium was exploited for ~$18M
Two of the biggest names in payments have become two of the biggest names in stablecoins. A takeover bid would put both books under one roof.
Stripe, with private-equity firm Advent International, made an unsolicited roughly $53 billion bid for PayPal. If PayPal accepts, the deal would pair Stripe's Bridge and Privy stablecoin infrastructure with PayPal's PYUSD token and crypto-trading business, consolidating two mainstream payments companies' stablecoin operations into one.
The bid is a bet on where payments are heading. Stripe bought Bridge to own stablecoin rails; PayPal built PYUSD to issue its own dollar. Combining them would create a payments giant that both issues a stablecoin and runs the infrastructure to move it, the kind of vertical stack competitors would need years to assemble.
Read more below!
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Stripe's $53B PayPal Bid Would Combine Bridge and PYUSD Under One Owner
Stripe and private-equity firm Advent International made an unsolicited ~$53 billion bid for PayPal. If accepted, it would pair Stripe's Bridge stablecoin infrastructure with PayPal's PYUSD token and crypto-trading arm, folding two mainstream payment firms' stablecoin operations into a single company.
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DTCC Starts Live Tokenized-Securities Trades With More Than Two Dozen Firms
The DTCC, the plumbing that clears and settles most US securities trades, began live production trades of tokenized real-world assets with more than two dozen firms, with a full service launch set for October. The move pushes Wall Street's largest tokenization effort out of testing and into a live environment.
Ostium Halts Trading After Oracle Exploit Drains up to $18M from Vault
Ostium halted trading after an oracle exploit drained up to $18 million from one of its vaults on Arbitrum, per security firm Blockaid. The attacker used a registered price-feed forwarder and future-dated oracle reports to book fake trading profits.
Argentine Judge Orders ID, Freeze of 25 LIBRA-Linked Crypto Wallets
An Argentine judge ordered the identification and freezing of 25 crypto wallets tied to the LIBRA token that President Javier Milei promoted before its collapse, widening the legal fallout from the memecoin.
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