Stripe acquired Bridge in 2025 to expand its payments infrastructure into dollar-backed stablecoins, positioning the technology to move money faster and more cheaply across borders, as reported by PYMNTS. Bridge provides application programming interfaces (APIs) that allow businesses to send and receive stablecoins while abstracting away much of the underlying blockchain complexity.
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The Information reported that Bridge’s services were used by Kontigo, which focused on the Venezuelan market. While the U.S. has imposed sanctions on certain sectors and individuals in Venezuela, the report did not state that Bridge processed any transactions for any sanctioned person or entity. The Information said Bridge issued virtual accounts in the U.S. and Europe for Kontigo, and has since proactively prohibited services in high-risk regions like Venezuela, Afghanistan, and Belarus to mitigate potential legal risks.
The activity prompted additional scrutiny as Stripe worked to integrate Bridge into its broader payments platform. The report said that scammers are drawn to stablecoins because they allow funds to move quickly across borders, often with fewer intermediaries than card or bank-based payments.
While Stripe has built its core business around card networks and bank transfers with established monitoring frameworks, stablecoins operate on public blockchains where transactions can be difficult to block once initiated. According to The Information, some questionable activity reportedly occurred despite Bridge’s stated compliance processes.
Stripe declined to characterize the issue as widespread, but the episode illustrates how crypto-related products can expose payments companies to new categories of risk. Stablecoins have increasingly appeared in law enforcement investigations involving romance scams, investment fraud and sanctions evasion, particularly in regions where access to traditional banking is limited.
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The developments come as regulators continue to focus on stablecoins and their role in the financial system. In the U.S., lawmakers and regulators have been debating legislation that would establish clearer rules for stablecoin issuers and intermediaries, including requirements related to reserves, disclosures and anti-money-laundering controls. Those discussions have intensified as large technology and payments companies move deeper into crypto-linked services.
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